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Time to start bounce hunting for ETH?!Welcome everyone to this holiday update on ETHER!. You can see that from my last Head and Shoulder analysis that we have gotten a VERY strong move down. Initially, we had some consolidation in this 550-610 range which formed a wedge and furthered the move to the downside. It came down and hit my blue support level at 520 and this 61.8 fib point and it has held up nicely so far. While it's good that my 520 support has held up as support. If we zoom in it just seems to just be forming a bear flag on this 1 hour chart and the bounce to the upside has been minimal... which is concerning. We also need to pay attention to this DAILY MACD, it's crossed into negative territory and looking stronger and RSI has not yet confirmed any sort of bottom. On the smaller time frames we have had confirmations with little move to the upside and MACD is all negative which is something to be concerned with. That Head and shoulder's pattern was powerful and if we measure it from top to bottom we get roughly a 193 point move. If we move down to a similar magnitude we would get a move down to roughly this 450 area. Do we get a move like that? If we get a move down to this 430-450 area, I would imagine we would have RSI confirming divergence on the daily and it would make for a good entry point. As much as I want to enter right now for a long position, with a powerful pattern still in full force, MACD going down and RSI to yet confirm divergence I will be sitting on the sidelines for now. This isn't to say that we couldn't not get a move up from this support level. Its very possible and if you are looking for a high risk trade with a tight stop that could possibly be a good entry point. But, it's a sit on the sidelines type situation for me, especially because it's not something I want to worry about while on holiday. Happy Trading folks, -Sherem
BITSTAMP:ETHUSD
by Sherem
13
Ethereum. Triangle Part Hey. We enter the long after breaking the boundaries of the triangle. I also want to tell you about my interesting indicator called as "trend Cloud". Here are the cloud features in more detail: Support/resistance breakout, to indicate trend strength of support and resistance(the wider the cloud, the stronger the trend), the slope of the trend. The equilibrium price of the trend(when the price goes away from the cloud it comes to test it in 80%, my signals on the cloud algorithms are also well sometimes practiced, the state of uncertainty flat (when the price in the cloud is trading). Confirmation of the correction / trend when the price is trading below or above the cloud, the entries in the position and much more shows this my wonderful indicator. The indicator took me enough time, and if you are willing to use it, it will cost you a small amount of $ 10 per month. Put likes and subscribe, so you will give me motivation and fight with my laziness. All the best
BITFINEX:ETHUSDLong
by Jordan_Mitchell
Possible Inverse Head and Shoulders on ETHUSD?!A quick update. What's interesting about ETH right now is it's starting to lead the way in terms of upside movement. This is primarily due to ETH/BTC starting to really have some upside momentum. If you check out the chart we have broken this recent resistance levels and it appears we are going to march up on ETHBTC. For ETH/USD On the Day time frame we have 1. MACD crossing up, weak but still crossing. 2. RSI coming out of negative territory On this 6 hour chart we have. 1. MACD moving into positive territroy 2. Possible Inverse Head and shoulders pattern? 3. Created a "higher high" with it hitting that $430 mark I said it once before that if we move sideways it would most likely confirm a move to the upside. So, if we base out in this channel and move sideways a bit I would imagine we would get another push up. I am leaning bullish on this one, but on the flip side a break of the $360 area would be concerning and that is the area to watch if we are going to break down further. If this analysis added some value to your thought process, please smash that like button! Happy Trading. Don't stress, pick your points and DON'T USE LEVERAGE. -Sherem
BITSTAMP:ETHUSDLong
by Sherem
5
Possible move up? ETHUSDChart update: Everything is reversing off their lows and we are right at this resistance level and trendline for ETH. There isn't much in the way of resistance until 500. A little at 450, but not much to prevent it moving if it really gets going. Look for a break to the upside here if we crack this $405 area. It's KINDA forming an inverse head and shoulders here similar to BTC. I outlined what I think could happen, but it could drift for a while. Look for ETH/BTC to reverse it's downtrend for ETH to really start popping to the upside. My original call- Happy Trading. If this analysis helped or my last one, make sure you smash that like button to let me know. Appreciate it. -Sherem
BITSTAMP:ETHUSDLong
by Sherem
7
Nearing the bottom? ETHUSDChart update. You can see that ETH has broken this 450 support level to the downside and we have selling volume coming in still. It's possible that we could get a bounce back up from here to just under the 450 area, and I would anticipate more downside potential after that to continue to this 300 area. I am still in the market with my average buy at 533, with a large order down just above 300 to play this out in Martingale Fashion. If you are just entering some buys, enter in a Martingale fashion down to 300. With a larger part of your portfolio below that in case it breaks past the 300 level. Make sure you read up on the martingale strategy if you have not, it's vital in these bear markets! You won't make as much, but you will lose far far less. For a continuation to the upside, we need a solid break of this 450 level and trend line. From there we would target the larger resistance area around 550. -Sherem Happy trading, don't stress, don't use leverage and pick your points! Check out some of my previous calls -
BITSTAMP:ETHUSDShort
by Sherem
1
Etherium target reached perfectly, prepare for another reversal!Etherium has dropped perfectly to our major support previously. We now forecast it to make a recovery to 910 resistance where another reaction could occur (Fibonacci retracement, horizontal overlap resistance, descending resistance momentum). Our major support is at 781 (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:ETHUSDShort
by Tickmill
1
Ethereum making a pullback to resistance, watch for reaction!Ethereum is starting to make a pullback to our breakout level. This is usually a sign of bigger players pushing price back up to get in at a good entry. Our 1st major resistance is at 910.21 (Fibonacci retracement, horizontal overlap resistance) and another reaction off this level could push price all the way down to 781 support (Fibonacci retracement, horizontal swing low support). RSI (55) has broken below our 46% support-turned-resistance line signaling that we’re starting to see a bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:ETHUSDShort
by Tickmill
4
Etherium dropping perfectly with good downside potential! Etherium has started to drop perfectly after breaking our ascending support line as forecasted. Our 1st major resistance is at 910.21 (Fibonacci retracement, horizontal overlap resistance) and a further drop could occur to push price all the way down to 781 support (Fibonacci retracement, horizontal swing low support). RSI (55) has broken below our 46% support-turned-resistance line signaling that we’re starting to see a bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:ETHUSDShort
by Tickmill
1
Ethereum has broken ascending support, potential for bearishnessWe were watching our ascending support line really closely yesterday and price has finally broken below it. This is usually a sign for a potential change in momentum to bearish. Our 1st major resistance is at 907 which is a pullback resistance level. Our next major support is at 778 which is a 50% Fibonacci retracement and a strong horizontal swing low support. What is interesting it our RSI breaking below 46% which was previously holding up prices really well, this could be interpreted as potential for bearishness.
BITFINEX:ETHUSDShort
by ICmarkets
Ethereum right on major resistance,prepare for a potential drop!Ethereum is now testing our 1st resistance at 784 (multiple Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to drive prices down to at least 564 (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
2
Ethereum has broken major support! Keep an eye out on this tradeEthereum has broken major support-turned-resistance at 995 triggering a bearish exit. Our 1st resistance is at 995 (Fibonacci retracement, horizontal pullback resistance, breakout level) where a strong drop could occur from pushing price all the way down to 769. We have to be careful about 931 support level as price has bounced off that area previously and it currently serves as intermediate support. RSI (55) is seeing pullback resistance to our ascending support-turned-resistance line. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
Ethereum approaching major resistance, watch for reversal!Ethereum is approaching major resistance at 1144 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) and a strong reaction could occur at this level to drive price down to 927 support (Fibonacci retracement, horizontal swing low support). Do be aware that we’re seeing intermediate support at 1015. Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
1
Ethereum approaching major support, watch for break of key level Ethereum is approaching our major support level at 995 (Fibonacci retracement, horizontal swing low support) and a clean break of this level could open a potential drop to 769 major support (Fibonacci extension, horizontal swing low support). We have to be careful of intermediate support at 931 (Fibonacci retracement, horizontal swing low support). RSI (34) has made a bearish exit of our ascending support-turned-resistance line signaling that we’re likely to see massive bearish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDShort
by Tickmill
3
Ethereum in a bullish formation, look out for dips! Ethereum is rising nicely as expected and we can see an impulse Elliott wave formation with first major support at 1162 (Fibonacci retracement, horizontal pullback support) where a further rise could occur from to push price up towards 1282 resistance (Fibonacci extension, horizontal pullback resistance, elliott wave structure). RSI (34) is seeing ascending support hold up price really well in this bullish run. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
COINBASE:ETHUSDLong
by Tickmill
1