GREY ZONE ETHEREUM, CAN GO EITHER WAY (STAY ATTENTIVE!!!)We are in a grey zone at the moment. Looking at the most basic fundamentals of technical analysis and checking both the weekly as well as daily charts to make comparisons, we find ourselves in a bit of a grey area right now.
Simply look at the volume and momentum. It can go either way. Stay attentive, check the support/resistance and be ready to see what happens withing the next week or two (either sell and buy more at the next support line, or hold until we see an obvious reveral).
Ethereumusd
Ethereum, still a gentle !Hello everyone , this is my new update of Ethereum in Daily time frame. According to my last post we can see that Ethereum has just hit our first target so smoothy ! Please notice that this chart is provided in Daily time frame , so regardless of ranges in hourly time frames, after some dealing with the midline of the longtime channel (pink one), the second target at the roof of the channel is accessible in less than 2 weeks . Please be patient with a gentle coin !
ETH Buy a break setup.ETHUSDT - Intraday - We look to Buy a break of 3504 (stop at 3399)
Price action resulted in a new all-time high at 3485.
A break of bespoke resistance at 3500, and the move higher is already underway.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
We look for gains to be extended today.
We can see no technical reason for a change of trend.
Trading volume is increasing.
Our profit targets will be 3798 and 3978
Resistance: 3500 / 3600 / 3700
Support: 3400 / 3300 / 3200
Ethereum $ETHUSD PT 5,000-5,200 and higherEther is excelling while the bitcoin sideshow is barely making gains. BNB breaks out on DeFi, going past $100 billion in market capitalization Monday.
Ether (ETH) trading around $3,290 as of 21:00 UTC (4 p.m. ET). Gaining 10.7% over the previous 24 hours.
Ether’s 24-hour range: $2,941-$3,300 (CoinDesk 20)
Ether well above the 10-hour and the 50-hour moving averages on the hourly chart, a bullish signal for market technicians.
Ether was trading around $3,290 as of 21:00 UTC (4:00 p.m. ET), gaining more than 10% over the prior 24 hours. The second-largest cryptocurrency by market capitalization is the crypto story for Monday because the asset hit a fresh record high of $3,300 around 18:15 UTC (2:15 p.m. ET), according to CoinGecko.
“Ether has accelerated to new highs, reaching the targeted level of ~$3,000 from its April breakout far sooner than indicated,” noted technical analyst Katie Stockton, in Fairlead Strategies’ Monday market update. “It is not wise to fight momentum, so we are reassuming a bullish near-term bias, somewhat reluctantly.”
Momentum, in the form of ether spot exchange volume, is clearly high. Ether volume tallied $35 billion Sunday, with bitcoin just a bit higher at $39 billion. Together, the two assets changed over $74 billion in value Sunday – and that’s on a weekend day. Traders will be eyeing volume for the rest of the business week to see where the price settles, particularly with ether continually hitting fresh levels on the spot market.
Meanwhile, over $20 billion in locked value inside decentralized finance, or DeFi, has been gained in the last month, according to data aggregator DeFi Pulse. The value of ether, combined with traders looking for yield that exists for parking crypto in DeFi, is a fundamentally bullish sign for the Ethereum network overall.
“ETH has been powering for the past two years on the booming DeFi industry with a total value locked above $70 billion,” noted Elie Le Rest, partner at quantitative trading fund ExoAlpha. Le Rest also mentioned to CoinDesk the ambitious ecosystem upgrade Ethereum 2.0 as part of the catalyst for traders to punch buy on ETH. “Despite the high fees experienced by the Ethereum network, the market is starting to reflect the anticipated growth of ETH 2.0 into the price of ETH.”
The ether futures market is hitting brand-new levels not seen before, pushing open interest up to $8.8 billion and topping the previous record of $8.4 billion reached April 15, according to analytics provider Skew.
“I bet the launch of ETH futures has increased the comfort level of the massive asset managers that have sent U.S. stock market capitalization north of 200% of GDP and global bond yields negative,” said George Clayton, managing partner at investment firm Cryptanalysis Capital. ”I think ETH is acting like an institutional platform.”
ETHUSD - The next entry point! Not a financial advice - This is my trading diary ! It helps me think about my ideas.
Do your own plan and you will be successful in the long run.
Finally my computer is working again.
Ethereum keeps being bullish and it finds itself at price discovery. I am still long on ETH and would accumulate more if price drops to retest previous all time high. - Nice mid-term entries would be 2630 - 2520. The Pair against BTC keeps being strong.
Nothing else to add on this. This has been a very profitable (and easy) trade so far.
#eth #ethereum #tradingidea
ETH/USD Falling Broadening Wedge/ 4 Hour ChartHello people!
ETH/USD Potential Falling Broadening Wedge in the 4 hour chart. is a Very Bullish Pattern.
Even through this flash crash which has pulled all towards the bottom I still think that the BULL RUN is not over yet. Here are also 2 support lines below us which have always held well as support or resistance. I will again increase my trade on my lines, since I had a limit order at 1980$. If the breakout on this Falling Broadning Wedge results I will increase my trade after the confirmation.
The last ETH breakout we have also traded for a long time from 1550$ and at the breakout point at 1800$ we have increased our trade and have gone up to the target and have realized there above 80% and let the rest run with SL in profit.
Am curious what will happen in the crypto market this week.
Have fun with the trade and great profits.
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Further looking at ETHUSD and ETHBTCAnalysis for ETHUSD and ETHBTC
These are the daily charts
On the ETHUSD chart an expanding ascending wedge can be observed, this will likely continue, leading the price to mid 3,000's
This theory supported by the bullish state of ETHBTC with "open" moving averages (50 -> 100 -> 200) and a wide Gann range
Ethereum looks very strong, while Bitcoin looks rather weak at this current stage
I wonder how it will play out
This previous idea of mine shows ETHUSD breaking free of the two fib circles, allowing for a massive bullish range, further supporting the bullish theory of this post
I am long Ethereum
ETH.D To IncreaseEthereum dominance is looking to increase after hitting the bottom of the expanding wedge formation
We are looking for a right shoulder to form from this upward move, confirming the larger head and shoulders pattern within this wedge
Personally I think this will be the move to break this wedge formation, but if not the right shoulder will occur.
Included other chart patterns within this larger wedge, (falling wedge, symmetrical triangle)
I am long Ethereum