ETH Bull DayzBullish continuation it looks like
I wonder how high it will go
Mentally preparing myself won't work.
Ethereumusd
Mid Term sell for ETHThis is 2 Hour chart as, ETh is oversold in short term, a potential pull back to 50 EMA and completition of triangle formation might be a good trading entry for a mid/short term short for ETH.
The structurre targets 289 while Gold drags down crypto potentially, one might not wanna jump to the board at the target price before making Gold made it's target 1720 usd
Will Ethereum Hold These Supports???Expected up channel has been invalidated:
In my previous article I were expecting that the second-largest cryptocurrency will hold the support above the trendline that was started on 19th July 2020 on the daily chart. The price action also found resistance above this support, therefore I was expecting that a perfect up channel will be formed from this point. But unfortunately Ethereum followed the bearish move of the Bitcoin and broke down the support of this expected up-channel. I have also play the volume indicator on this chart that is showing a lot of sell volume has entered in the market.
The price action rejected by next resistance level:
Now if we switch to the 4 day chart then different support and resistance levels can be seen. As in my previous article I told you if the price action will breakout the $500 resistance level then there is no significant resistance between the $500 to $800.Therefore after breaking out this resistance level we can expect a very rapid move up to $800 resistance. But unfortunately the price action went very close to the $500 resistance and moved down. Now it has even broken down the $400 support. At this time it is re-testing the previous supports of $350 and $325 at the same time.
The priceline may re-test the SMAs as support before the next rally:
Now I would like to show you the different simple moving averages with the time period of 25, 50, 100 and 200 on the daily chart. At the moment priceline of Ethereum coin has broken down the 25 simple moving average and the 50 SMA and it is above the supports of 100 and 200 simple moving averages. Now we can expect if the price action won’t bounce from the 100 simple moving average then it can move down to the next support of 200 simple moving average that is at $244 at the time of writing.
And if we switch to the long term weekly chart then there is another possibility that the price action will retest the 200 simple moving average before the next rally to the upside. We can also see that the 25 simple moving average is continuously moving up to form a bull cross with 200 simple moving average. And for the people who don't know I would like to tell them that whenever the smaller time period moving average crosses up the bigger time period moving average that is considered as a strong buying signal and a rally to the upside can be started. After 25 SMA, the 50 simple moving average is also moving towards 200 SMA and when the 50 simple moving average will cross up the 200 simple moving average that will be a real golden cross and a strong bullish signal on the long term.
The priceline may not re-test the bearish cloud:
Now if we place the Ichimoku on the same long-term weekly chart then we have already seen that the price action has broken out the bearish cloud and the Ichimoku cloud has given strong bullish signals.
Now the price line is moving down towards the bearish cloud. But I am not expecting as that much powerful bearish rally that it will re-test the cloud as support, because we have the strong supports of the simple moving averages on the daily and the weekly chart as discussed above. Therefore there is a strong possibility that priceline will start the next rally to the upside without touching this cloud.
Conclusion:
We have witnessed several correction rallies on the daily chart while the bullish move of Ethereum. But correction on the long-term chart was still due that is happening at the moment. Therefore this correction was required for the next move to the upside once this correction will be ended then we can expect a powerful bullish rally.
ETH Market Dominance at 2020 HighEther’s market cap’s share of the broader digital asset market hit a 2020 high over 14% Wednesday. Although dipping a bit Thursday, the last time ether’s share was at these levels was back in August 2018.
“A large number of useful projects on the Ethereum blockchain contribute to ether dominance growth,” said Azamat Malaev, co-founder of HodlTree, a decentralized lending protocol. However, scaling is an issue that could cause ether’s share to wane, Malaev added. “To maintain this trend, Ethereum urgently need to scale the network - for ordinary users, transactions are already very expensive”
Ethereum can hit $800 soon if this resistance will be brokenHi friends, hope you are well and welcome to the new update on Ethereum coin. The second largest cryptocurrency has surged 46% since I posted my last article. First of all for the people who are not following my articles on Ethereum coin I would like to give some recap. In March 2020 I posted an article where I revealed that the price action of Ethereum has completed the formation of a bullish Gartley pattern on the monthly chart.
The price action of Ethereum was entered in the potential reversal zone of this big bullish Gartley pattern and as per Fibonacci sequence of this pattern, I predicted that the priceline will start a rally to the upside from here at least up to 0.382 to 0.786 Fibonacci projection of A to D leg.
Finally the price action started the movement to the upside as predicted and so far it has produced more than 270% powerful bullish rally.
The priceline can move upto $800 soon:
Now I would like to take you to the 4 day chart to show you the different support and resistance levels. On the chart we can see that recently the price action has broken out the $400 resistance level and went very close to the $500 resistance. Once the $500 resistance level will be broken out then there is no significant resistance between the $500 and $800. Therefore we will witness a very powerful and rapid bullish move up to $800 once the $500 resistance will be broken out.
If we take more closer look at the chart then we can also observe that after breaking out the $400 resistance level the price action has already re-tested the previous resistance as support. And after retesting the priceline has retained the support above $400. If price action of the second largest cryptocurrency will be not able to breakout $500 resistance then it can form a parallel channel between 400 to 500 dollar levels.
The moving averages are moving up with price action:
After placing the simple moving averages with the time period of 25, 50, 100 and 200 a very positive gesture by these moving averages can be observed. As the price action of Ethereum has surged more than 270% but these simple moving averages also moving up with the price action. And after a certain time period the priceline is using these moving averages as support before starting the next rally to the upside.
Formation of new channel:
From the month of June 2020 the price action of Ethereum coin has started the formation of an up channel. We have several touches at the support and also at the resistance of this channel. Now this support of the channel can be used as a stop loss to find any appropriate exit point.
If we take a look at the volume indicator below the channel. Then it can be easily observed that we have more buying volume than sell volume. Therefore we can take it as a signal for the continuation of the up channel.
The Ichimoku cloud has turned strong bullish:
Now I would like to take you to the long term weekly chart. And over here if we place the Ichimoku cloud then it has turned is very strong bullish, the lagging span of the cloud has crossed up the price action and the cloud as well. The price action has already broken out the bearish cloud and we have already received the bull cross between the conversion and the baseline and the cloud has turned bullish after March 2020. Therefore now this Ichimoku cloud has become a very strong support for the priceline of Ethereum coin on the long term.
Conclusion:
After breaking out the Ichimoku cloud on the long term chart the price action of second largest cryptocurrency has confirmed the long-term bull run. But as on the short-term priceline is moving in an app channel, therefore in case the support of this channel will be broken down then a short time rally to the downside can be started. However, If such short term rallies will be triggered then these rallies would be seen as a correction on the long term charts.
ETH IdeaCan be seen to have formed a symmetrical triangle, a large ascending broadening wedge and a HUGE falling wedge
Camporable points in boxes labelled (1)
ETH: Bullish and Bearish Cases!Ethereum is currently showing strong rejection at current levels suggesting that it might be moving towards lower levels. Eth is currently the main mover advantage within the alt coin market and $400 Ethereum is currently showing no signs of strength, even as a psychological barrier. We have plotted two scenarios for both bulls and bears; however, we find that bearish probability has the upper hand.
Trade Safe.
X Force.
ETH/USD: Long Term Breakout Analysis 1W (Aug. 17)X Force Global Analysis:
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Ethereum has been leading this bullish cryptocurrency rally of 2020. In this analysis, we assess Ethereum's weekly chart in order to determine potentiality of its long term growth.
Analysis
- To begin with, there has been a strong zone of resistance between $365 and $400, marked by the orange bar
- We have seen prices test, and get rejected by this territory numerous times throughout history.
- The last time we saw a break and close above this resistance zone was in November 2017, which led to a massive bullish rally
- As demonstrated above, this is the first time in almost 3 years since we have broken out of the strong resistance zone
- It's also important to note that we have broken through significant descending trend line resistances, marked by the dotted white lines
What We Believe
As we have seen the weekly candle break and close above significant resistance zones, we believe that a corrective or bearish trend leading prices back down sub $350 is highly improbable. The weekly chart demonstrates clear upside for a long term bullish trend.
Let us know what you think in the comment section below
Trade Safe.
ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary:
Profit targets=22850 pip (3270 + 6970 + 12610)
Stop Loss =7050 pip
Reward/Risk > 3.2: 1
Current Status:
Total Profit: 42250 pip
Closed trade(s): 13150 pip Profit
Open trade(s): 29100 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 :
Closed Profit:
TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit.
TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit.
5400 + 7750 = 13150
Open Profit:
Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip
3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL= Break below 393.00
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ETHUSD Update: Profit=22850 SL=7050 Reward/Risk > 3.2:1 Trade Setup summary:
Profit targets=22850 pip (3270 + 6970 + 12610)
Stop Loss =7050 pip
Reward/Risk > 3.2: 1
Current Status:
Total Profit: 42250 pip
Closed trade(s): 13150 pip Profit
Open trade(s): 29100 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 :
Closed Profit:
TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit.
TP2 @ 416.50 touched at 2020.08.13 with 7750 pip Profit.
5400 + 7750 = 13150
Open Profit:
Profit for one trade is 436.00(current price) - 339.00(open price) = 9700 pip
3 trade(s) still open, therefore total profit for open trade(s) is 9700 x 3 = 29100 pip
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (416.50) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL= Break below 393.00
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ETHEREUM FORCING $385 AGAIN ? - Daily Technical AnalysisHope you have a beautiful day!
In the following video I am presenting the current situation of the market for short term period by utilizing highly efficient structure lines and data language.
Please watch the entire video and let me know
Are we going to close today, above $385 or not ?
Let me know what is your position on this and let's construct a positive conversation
Enjoy your day and be careful leveraging!
ETH/USDT: Pullback Probability Analysis 1W (Aug. 08)X Force Global Analysis:
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In this post, we analyse Ethereum's weekly chart, and its probabilities of a correction in the form of a pullback.
Analysis
- To begin with, Ethereum has broken out of two major descending trend line resistances, marked in orange
- Despite the parabolic run over the past few weeks, however, Ethereum hasn't had a real correction take place
- Candlesticks show a long upper wick, indicating signs of strong resistance around the 0.382 Fibonacci retracement resistance
- The Relative Strength Index (RSI) is at overbought territories, at the same level as in Jan. 2018.
- The Moving Average Convergence Divergence (MACD) however, shows good signs of momentum for the bullish trend
- The Stochastic Oscillator is also at overbought territories, having formed a death cross
- There is strong historical support around 355 USDT and 310 USDT
- Even a drastic correction below 300 USDT, down to the 0.236 Fibonacci support would be considered bullish over the long run
- Prices would still be trading above the Exponential Moving Average (EMA) Ribbon, and Ichimoku Cloud
What We Believe
We believe that Ethereum is extremely overbought, and is due for a correction in the form of a pullback. What may appear as dramatic corrections in the short term will most likely not hider with the long term bullish case, as unsustainable trends mostly come to an end.
Let us know what you think in the comment section below
Trade Safe.
ETH/USDT: Signs of Topping Out 1D (Aug. 08)X Force Global Analysis:
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In this analysis, we take an unbiased stance on Ethereum's Tether pair (USDT), assessing its bullish and bearish probabilities on its daily chart.
Analysis
- To begin with, we can count Elliott Waves for the current uptrend leading up to its local top
- Counting Elliott Impulse Waves (!2345), we can see that the impulse waves have all already played out
- Considering that the degree of the trend is 70 degrees, a corrective wave count is highly probable, as such steepness in trend is unsustainable
- Based on fibonacci retracements, we could expect a corrective wave to take place down to the 0.382 Fibonacci support
- One thing to notice is that the 0.382 Fibonacci support converges with the Ichimoku cloud at a certain point
- This indicates that even a correction leading down to 340 USDT would still validate the overall bullish trend
- The envelope indicator demonstrates that prices are way overextended above the original trend, and is due for a correction
- Technical indicators all point to a similar direction
- The Relative Strength Index (RSI) is at overbought levels, having created lower highs and lower lows
- The Moving Average Convergence Divergence (MACD) shows decreasing bullish histograms with a potential death cross in play
- The Stochastic Oscillator has formed a death cross at overbought territories
What We Believe
While Ethereum may be looking to retest and form a lower high in the shorter term charts, technicals on the daily chart demonstrate strong signs of the altcoin being overbought, and overextended above a sustainable level of trend. As such, any insignificant breakouts we may see on the shorter time frames could be interpreted as an attempt by bears providing liquidity in the market, and seeking opportunities to maximize their positions at optimum levels.
Let us know what you think in the comment section below
Trade Safe.
ETH/USDT: Hidden Bullish Divergence Analysis 1H (Aug. 08)X Force Global Analysis:
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In this post ,we analyze Ethereum's 4 hour chart, assessing its short term bullish probabilities.
Analysis
- To begin with, Ethereum (ETH) has been consolidating within a bullish pennant pattern
- Prices have been creating lower highs and higher lows
- While bears have attempted to break the structure, bulls have managed to secure significant trend line support
- There is a hidden bullish divergence in play, with higher lows on the price, and lower lows on the indicator
- The Relative Strength Index (RSI) is at neutral zones, showing potentiality for a breakout
- The Moving Average Convergence Divergence (MACD) has shown increasing bearish histograms, leading to a potential golden cross
- The Stochastic Oscillator has recently formed a golden cross at neutral levels as well
- The Simple Moving Averages (SMAs) are all aligned in the order of: 20, 50, and 100 SMA
- Prices have tested the lower bollinger band support
- Prices have managed to bounce on the Ichimoku cloud support
- For Ethereum to retest its new lower high, it must first break and close above the 0.618 Fibonacci resistance, providing confirmation
What We Believe
We believe that Ethereum's short term technicals demonstrate room for a small breakout, that could lead to a formation of a new lower high. For a continuation of the rally, ETH would have to break and close above the bullish pennant structure.
Let us know what you think in the comment section below
Trade Safe.
ETHUSD Update: Profit=32250 SL=11600 Reward/Risk > 2.8:1 Trade Setup summary:
Profit targets=32250 pip (2350 + 5620 + 9320 + 14960)
Stop Loss =11600 pip
Reward/Risk > 2.8 : 1
Current Status:
Total Profit: 29400 pip
Closed trade(s): 5400 pip Profit
Open trade(s): 24000 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 :
Closed Profit:
TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit.
Open Profit:
Profit for one trade is 399.00(current price) - 339.00(open price) = 6000 pip
4 trade(s) still open, therefore total profit for open trade(s) is 6000 x 4 = 24000 pip
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested Uptrend and price reject from uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP2= @ 416.50
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL: Break Below Uptrend
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ETHUSD Update: Profit=32250 SL=11600 Reward/Risk > 2.8:1 Trade Setup summary:
Profit targets=32250 pip (2350 + 5620 + 9320 + 14960)
Stop Loss =11600 pip
Reward/Risk > 2.8 : 1
Current Status:
Total Profit: 29400 pip
Closed trade(s): 5400 pip Profit
Open trade(s): 24000 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 339.00 based on 'previous Forecast' at 2020.08.02 :
Closed Profit:
TP1 @ 393.00 touched at 2020.08.03 with 5400 pip Profit.
Open Profit:
Profit for one trade is 399.00(current price) - 339.00(open price) = 6000 pip
4 trade(s) still open, therefore total profit for open trade(s) is 6000 x 4 = 24000 pip
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested Uptrend and price reject from uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP2= @ 416.50
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL: Break Below Uptrend
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Ethereum chart patternsETHBTC has broken above the ascending broadening wedge very bullish
There may be a pullback once horizontal level is reached on the scallop on ETHUSD however the Gaussian channel looks quite bullish
Currently in a falling wedge ETHUSD 30 min
Other chart patterns listed..
ETH/USDT: Extremely Bullish with One Major Problem 4H (Aug.02)X Force Global Analysis:
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In this analysis, we explore Ethereum's 4 hour chart to assess the bullish and bearish evidence for the next probable move.
Analysis
- To begin with, Ethereum has been on a very steep uptrend, trading within an ascending parallel channel for days
- The Simple Moving Averages (SMA) are all aligned in order: 20, 50, 100, and 200 SMA on the 4H
- Prices are trading way above the Moving Averages as signs of strong support for the bullish trend
- The Ichomku cloud is also located below current prices, indicating a clear bullish rally and strong support
- While the Relative Strength Index (RSI) is at overbought zones, we can see that we have previously seen Ethereum being at an overbought state, yet having continued to rally
- Similarly, the Moving Average Convergence Divergence (MACD) shows strong bullish histograms as a sign of momentum
- The fact that prices have broken out of the ascending parallel channel indicates strong bullishness
- However, what is concerning is the fact that such steep trends are unsustainable
What We Believe
While the trend and technical evidence suggest that Ethereum is clearly very bullish, its currently steep trend is extremely unsustainable. Thus, should a correction play out, we could expect strong support around 350 USDT where the 20 SMA and channel support converge.
Let us know what you think in the comment section below
Trade Safe.
Anybody Else Watching The 2-Month ETH Trend?Ethereum continues to rise and snap resistance levels as if they never even existed!
Let's zoom out and look at the overall trend of how ethereum is performing.
Notice that price on the 2 month chart shifted to go green around may of 2020... BTC halvening.
Tight price compression as we accumulated and continued to hold support. Now we have transitioned and brokeout with strong green movement.
All time highs in crypto will become Irrelevant. Don't miss the cycle!
ETHUSD Update: Profit=46750 SL=15500 Reward/Risk > 3:1 Trade Setup summary:
Profit targets=46750 pip (2900 + 5250 + 8520 + 12220 + 17860)
Stop Loss =15500 pip
Reward/Risk > 3 : 1
Current Status:
Total Profit: 13929 pip
Closed trade(s): 13929 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 229.34 based on 'previous Forecast' at 2020.07.06 :
Closed Profit:
TP1 @ 237.34 touched at 2020.07.20 with 800 pip Profit.
TP2 @ 244.77 touched at 2020.07.21 with 1543 pip Profit.
TP3 @ 244.77 touched at 2020.07.22 with 2405 pip Profit.
TP4 @ 263.70 touched at 2020.07.22 with 3436 pip Profit.
TP5 @ 286.79 touched at 2020.07.24 with 72 pip Profit.
800 + 1543 + 2405 + 3436 + 5745 = 13929
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 83.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP1= @ 393.00
TP2= @ 416.50
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL= Break below 333.00
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ETHUSD Update: Profit=46750 SL=15500 Reward/Risk > 3:1 Trade Setup summary:
Profit targets=46750 pip (2900 + 5250 + 8520 + 12220 + 17860)
Stop Loss =15500 pip
Reward/Risk > 3 : 1
Current Status:
Total Profit: 13929 pip
Closed trade(s): 13929 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 229.34 based on 'previous Forecast' at 2020.07.06 :
Closed Profit:
TP1 @ 237.34 touched at 2020.07.20 with 800 pip Profit.
TP2 @ 244.77 touched at 2020.07.21 with 1543 pip Profit.
TP3 @ 244.77 touched at 2020.07.22 with 2405 pip Profit.
TP4 @ 263.70 touched at 2020.07.22 with 3436 pip Profit.
TP5 @ 286.79 touched at 2020.07.24 with 72 pip Profit.
800 + 1543 + 2405 + 3436 + 5745 = 13929
Technical analysis:
. ETHUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 83.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP1= @ 393.00
TP2= @ 416.50
TP3= @ 449.20
TP4= @ 486.20
TP5= @ 542.60
SL= Break below 333.00
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