ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also erased Wednesday’s gains, with the world’s second-largest cryptocurrency failing to break a ceiling of its own.
Following a high of $1,672.05 on hump day, ETH/USD dropped to a bottom of $1,635.85 earlier in Thursday’s session.
The move occurred as ethereum buyers were not able to push the price above resistance at $1,675 during yesterday’s rally.
As a result, bears reentered the market, further intensifying the downward momentum of the 10-day (red) moving average.
Currently, the trend line is fast approaching its 25-day (blue) counterpart, with a downward cross inevitable.
In addition to this, the RSI, which is tracking at 51.82, appears to be en route to a floor at 49.00, which could push ETH below $1,600.
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Ethshort
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also raced higher on hump-day, as prices once again moved above $1,650.
ETH/USD raced to a high of $1,658.69 earlier today, less than 24 hours after nearly falling below $1,600.
As a result of this surge, the world’s second-largest cryptocurrency climbed to its strongest point since last Thursday.
Additionally, price strength has also risen past a ceiling at the 53.00 mark, with the index tracking at 54.68 as of writing.
Despite this, the 10-day (red) moving average still seems set to crossover its 25-day (blue) counterpart, which could prompt an upcoming sell-off.
Should this cross occur, there is a possibility that ETH could fall toward a floor at the $1,550 mark.
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ETH SHORT SCALP ASIAN RANGE HIGH TO PRICE ARRAYS BELOW AR50Day's Bias: Bullish
Plot:
Descending Channel formation pattern.
Price expands in the Asian Session, price is expected to return close around it's 50%.
Price Arrays below AR50 to enter longs.
If I am right that we reached the top of Asian Range, price is going to mitigate price arrays on or below its 50%.
Bounce off AR50 within London or NY Sessions will be explosive.
Taking this Short Scalp and setup a Long right below AR50.
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) also stuttered in today’s session, with prices moving close to the $1,600 level.
Following a high of $1,662.58 to start the week, ETH/USD fell to a bottom of $1,615.39 earlier in the day.
This recent decline comes after a failed attempt to move past a long-term resistance level of $1,675.
Additionally, price strength has also hit a ceiling at the 53.00 mark, with the index tracking at 52.74.
Ultimately this consolidation, which is almost identical to bitcoin’s, comes as markets wait for this afternoon’s consumer confidence report, before deciding which direction to take.
However, should ETH bulls break the 53.00 ceiling on the RSI, there is a good chance that the price could be heading to or above $1,700.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) on the other hand, has been predominantly bullish to start the week, with prices rising back above $1,600.
ETH/USD, which dropped to a bottom of $1,597.21 on Sunday, surged to a peak of $1,645.91 earlier in the day.
Prices have primarily climbed in the past few days, after falling to a low of $1,557 to start the weekend.
earlier gains have eased, as the RSI collided with a wall at the 54.00 mark.
Since this collision, price strength has declined, with the RSI now tracking at 53.04, and ETH trading at $1,638.06.
Should ETH bulls intend to return the price toward the $1,700 mark, the first step in this journey would be to move past the 54.00 ceilings.
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ETH Buy TradeHere is My Study On Etherium. NExt Month Coming Shanghai Update. It Brings Abit Fomo an We can Touch 2000.
This analysis is for informational purposes only and should not be considered financial or investment advice. The information presented in this analysis is based on my own research and is subject to change without notice. The analysis is not a recommendation to buy or sell any specific cryptocurrency, Forex And Stocks. Please conduct your own research and consult with a financial advisor before making any investment decisions."
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) fell from Thursday’s high, with the cryptocurrency also impacted by today’s increased volatility.
Following a high of $1,666.13 during yesterday’s session, ETH/USD slipped to a low of $1,632.57 on Friday.
The drop saw ethereum move further away from its long-term ceiling at $1,675, and closer to a floor of $1,630.
Since hitting this earlier high, prices have gone on to rebound, with ethereum now trading at $1,648.37.
This comes as price strength seems to have found a floor at 54.00, and is currently hovering above this point.
At the time of writing, the index is tracking at 54.35, with the 10-day (red) moving average upward facing, which could be a sign of an upcoming rally.
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Shanghai upgrade: to the moon or not?Ethereum is an amazing project: the team's ability to stay on the road map and stick to the original plans has always been impressive. Even this one thing makes you stay bullish on $ETH in the long run. Earlier we posted idea about the Shanghai upgrade and we predicted local growth until March. Now let's check things out in a current situation
First of all, we should understand that long-term theses are only good in a bull market, or when most participants are also thinking in the long term. That's why we shouldn't expect a crazy rise right after the Shanghai upgrade.
The Shanghai Upgrade is scheduled to be implemented on the Sepolia test network on February 28, 2023 . Tentatively Shanghai should be released on mainnet a few months after Sepolia (July-August)
Let’s remember that the main feature of the Shanghai Upgrade for the user will be the ability to output steak ETH.
Here’s some statements why you shouldn’t wait for ‘to the moon’ right after the upgrade:
Some of the users who have entered at the price of ETH below the current one may want to take profit
Some of the users who have entered at the prices equal to the current one, may want to secure their positions and fix the token stack they have forged
Some users who have entered at the prices higher than the current one may want to take their losses back
Thanks for reading, share your point of view about ETH and stay with us!
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) was back in the green in today’s session, with prices nearing $1,700 following yesterday’s sell-off.
ETH/USD rose to a peak of $1,674.60 earlier in the day, which comes after bottoming out at $1,604.80 on Wednesday.
The move saw ethereum come within touching distance of its long-term ceiling at $1,675, however, bullish pressure was not sustained.
Since hitting this earlier high, prices have gone on to slip, with ethereum now trading at $1,665.75.
This coincides with the RSI indicator running into a hurdle, in the form of the 57.00 resistance point.
At the time of writing, the index is tracking at 56.10.
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ETH Key principles of trading in different market phasesAs is known, the market has two types of states:
When it is trending (distribution phase)
When it is in a range (accumulation phase)
The regularity is that the market will ALWAYS transition from one state to another. The trend will always give way to a range, and after exiting the range, a new trend will emerge.
Knowing this, a trader must learn to trade in both market states and build their trading system based on continuous practice.
In the distribution phase, when the market is dominated by a trend, a trader should look for opportunities to open positions in the direction of the trend. In this case, technical analysis should be used to determine entry and exit points from positions.
In the accumulation phase, when the market is dominated by a range, a trader should be cautious and wait for opportunities to open positions. In this case, a broader market analysis, including fundamental analysis, should be used to determine the most likely direction of price movement.
The key element of successful trading is continuous practice. A trader should constantly test their trading system and analyze their mistakes to improve their results. It is also important to keep an eye on current news and events that may affect the market and adapt their strategy accordingly.
Overall, a trader should be flexible and ready to adapt to changes in the market to achieve constant growth in their results.
eth potential swing channelsimilar channel to bitcoin. offered breakout from previous support, forming our channel bottom. respecting eq. slight deviation at channel top.
only measure that's a bit out of range is our wave 2 target. would have to be a deviation from the channel, which is still in line with our thesis.
eth swing short back to range low | $1300 min targetwas long this morning but closed out for pennies. flipped back short. something just felt off.
think that was finally the short trigger we've been looking for. wave 1 feels complete. wave 2 should take us all the way back towards range low.
$1300 min target.
$1215 TP2
technically this could go all the way back to the low ($1073) and remain a valid wave 2.
ETHEREUM: BEARISH IN LOWER TIMEFRAME.ETH looks bearish to me. I expect a retracement in the market and this could be it. I am opening my short position at $1670 to $1725. If ETH closes above $1750 in 6 hours or a daily timeframe, I will exit my short trade. My target will be close to $1500. RRR- 1:3.
Note: Do not trade without SL and use 8x to 10x leverage. DYOR before investment.
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) has mostly traded higher in the past 24 hours, with prices remaining above $1,700.
ETH/USD moved to a peak of $1,718.95 earlier in the day, which comes after falling to a low of $1,659.30 on Sunday.
Like with bitcoin, the gain took place as prices bounced from a recent floor — on this occasion the $1,675 mark.
An upwards crossover of moving averages has also occurred in today’s session, which is usually a sign of a change in market momentum.
Should this be the case, then there is a strong possibility that ethereum bulls could target $1,800, which hasn’t been hit since September.
In order to potentially move towards this level, an upcoming hurdle of 67.00 on the RSI indicator must first be overcome.
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ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) rose back above the $1,700 level to start the weekend, with bulls returning to the fold.
ETH/USD moved to a peak of $1,716.78 earlier in the day, which comes less than 24 hours after trading at a low of $1,656.28.
The world’s second-largest cryptocurrency climbed back above a price ceiling of $1,675 following the move.
At the time of writing, earlier gains have somewhat eased, resulting from the RSI colliding with a ceiling at 63.00.
Since this collision, price strength is now hovering at a reading of 60.44, with ethereum trading at $1,693.41.
If bulls fail to move beyond this hurdle, it is unlikely that ETH will re-capture the $1,700 this weekend.
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