ETH (CONVERGENCE) + DOWN TRENDhi there ,
convergence simply its mean that the trend its not finished yet not matter its down of up trend but in this case we have a down trend with convergence supportation,
price convergence its support the continuation of downtrend , i,m afraid this up wave its a bull trap and later price will continue down ,
thanks
Ethreum
What to do if ETH dumped after FOMCOn daily TF, bearish divergence since 20 Jan.
If you think it's a good idea to long at resistance on the back of a bearish divergence, go ahead.
What if ETH dumped?
I only do spot trading, so the next levels to DCA enter market will be at 0.382,0.5 and 0.618 fib levels.
1662, 1606, 1551. 1430 being the last level barring any black swan events
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It's time to analyze ETHFrom today, we have to wait for ETH to move towards the price of $2150.
After that, we have to wait for ETH to enter the specified range, most likely, crossing the specified resistance range which is $2350 and $2850 is not an easy task.
Finally, after passing the price of $2,850 and the general conditions of the cryptocurrency market being favorable, we will see the significant growth of ETH.
Note that the image shows the weekly chart.
ETH/BTC possible bounce entryAs BTC is ripping , altcoins are getting destroyed.
This is mainly because people are switching their altcoins into bitcoins in order to preserve their bitcoins. Bitcoin just went 70%+ in 1 week and destroyed altcoins there leaving them behind .
Above, i have provided possible targets to where altcoins can start bouncing.
Ethereum's bias remains positive.Ethereum - 24h expiry - We look to Buy at 1701 (stop at 1651)
Daily signals are mildly bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
There is no clear indication that the upward move is coming to an end.
We look to buy dips.
50 4 hour EMA is at 1706.
Our profit targets will be 1821 and 1841
Resistance: 1800 / 1820 / 1843
Support: 1775 / 1750 / 1710
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Good Opportunity:ETH price hits a new high during the yearEthereum, from a technical point of view, the ETH short-term 4-hour market is under pressure below 1850. The market is currently falling below the MA20 moving average to stop the decline, and the low point of the decline is slowly rising. In the short-term, the market has not fallen below the 1740 first-line support. There are signs of successful top-bottom conversion. The daily market closed on March 18th with a long shadow line of negative K, the market is rising again today, currently showing a barefoot positive K, the current daily market has a slight adjustment signal, the daily line pays attention to the support of the 1740 range below, and the market If the entity falls below the high probability, it will drop down to the 1680 line. Overall, the current short-term market is supported by the strong pressure level of the 1740 line before stepping back, the market has formed a top-to-bottom conversion, and the daily line has a slight downward signal. At the same time, the market has already touched the 1800-1900 range. Strong selling pressure level, so the current operating idea is to wait for the market to adjust, mainly to go long at low levels.
In addition, if buyers can keep interest rates above US 1700, Ethereum (ETH) may continue to grow in the medium term.In this regard, the rise may continue to the key area of about US 2000.
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ETH SECURITY ISSUE ETH IN DANGER;!Eth is considered to be a strong project after Bitcoin recently Eth has been upgraded it was previously on Proof of Work now it has been upgraded to Proof of Stake. New York Attorney General Letitia accused Eth of having security issues, so the case will continue for now. The Shanghai update is going to happen in the month of March and people will have ETH stacks that have been stacked for years and there will be a selling pressure due to which Eth is expected to crash by 10-15%.
Im going for a short position hereThe price is currently at $1606 and if the price moves from this point towards the DOWNSIDE then there will be more LONG positions compared to SHORTS that are at the risk of getting liquidated. The current value of Cumulative Delta is above +5B. This also represents the social sentiment that more BUY orders are placed currently.
Read this chart carefully as these are one of the most important levels for any price movement.