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Ethusdshort

ETH Poised For 11% Correction Following Rejection At $2,400 Ethereum price is back to hunting for higher support, preferably above $2,000 following a recent rejection. A rising wedge pattern shows that Ether has started an 11% percent retreat to $2,000. Ethereum is back in the red barely a day after rising to around $2,400. The pioneer smart contract token had led other altcoins into a considerable recovery, gaining ground from $1,730 to nearly $2,400. Perhaps the failure to close the previous day above $2,400 triggered another bearish dominance move as sellers rushed to take profits. At the time of writing, Ethereum teeters at $2,176 in the wake of a 7% loss over the last 24 hours. Ethereum Price Poised For Retreat To $2,000 The massive upswing toward the end of last week and on Monday was remarkable but unsustainable. It seems that fundamentals failed to catch up with the colossal price action, or investors were quick enough to sell the news. Either way, the correction is not unique to Ethereum. Especially with Bitcoin balancing around $36,000 after rising to $40,000 at the beginning of the week. Meanwhile, short-term technical indicators suggest that the correction will continue in the near term. Realize that the Moving Average Convergence Divergence (MACD) has a sell signal on the four-hour chart. The call to sell recently came into the picture as the 12-day exponential moving average (EMA) crossed below the 26-day EMA. The odds for an extended correction could sparkle as the MACD closed the gap to the mean line. A rising wedge pattern formation on the four-hour chart paints a bearish picture; hence the 11% predicted declines. It is worth mentioning that this pattern forms amid an ongoing uptrend and can be short-term or long-term, depending on the time it took to develop. The upper trendline (resistance) and the lower trendline (support) converge as the pattern matures. A surge in volume at the support break functions as validation for the bearish bias, explaining the progressing retreat from $2,400 toward $2,000. The correction target of 11% or $2,000 may fail to occur if Ethereum holds above $2,100. Here, bulls will focus on gaining ground back to $2,400 and later to $3,000. Ethereum Intraday Levels Spot rate: $2,180 Trend: Bearish Volatility: High Support: $2,100 and $2,000 Resistance: $2,400
COINBASE:ETHUSDLong
by CoinGape
1
#ETHUSD looks prime here! $2500 Incoming ?Welcome to this quick update on ETHUSD If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. Etherium looks really bullish as of now. Just like the BTC chart, I posted a few hours back. A healthy retracement would really be good for a sustainable rally towards $2800 breaking the 25k level first. I've plotted the two scenarios I expect from here in the chart. Scenario 2 seems likely. What's your thought on this? Do you think it will keep umping or retrace back for the 2k levels? Do share your views in the comment section and do not forget to hit the like button. #PEACE
by Cryptorphic
ETH, XRP, BTC ---> USD based pairings.You can see that we are back to that previous 4H zone and the price is having a hard time breaching that level (200 MA) is right above. If there isn't sufficient to change the momentum, my previous bearish bias still stands. The green path is what is least expected, the red path is what is (overall) expected. The bottom Zone edge or Baseline of that zone are expected TP ranges. What we have seen is just corrections against the prevailing trend. Remember, impulse waves are narrow and thin (go somewhere, make progress) and corrective movements are wide and fat.
BITSTAMP:ETHUSDShort
by alldyn_pip_king
1
Bloodshed Galore As ETH Nosedives To $1,700 Ethereum price explores the levels toward $1,700 after closing the day under support at $1,850. Ether’s downtrend seems unstoppable amid numerous sell signals. Ethereum price is joining the rest of the cryptocurrency market in another selloff round. The pioneer smart contract token is in the middle of a breakdown that may soon touch $1,700 and perhaps continue to $1,600. The widespread losses have seen Bitcoin lose over 5% of its value in the last 24 hours to trade marginally above $30,000. Ethereum is grappling with 7.6% in losses while more declines seem apparent in the near term. Ethereum Price Freefall Gains Momentum Ether continues to trade within the confines of a descending parallel pattern, as seen on the four-hour chart. A recent rejection at the upper boundary (a resistance reinforced by the 50 Simple Moving Average (SMA)) caused bulls to lose balance. The correction reported on Monday failed to secure support at $1,850 (instrumental in stopping last week’s losses). As the price action explores downstream levels, bulls hope to bounce back at the channel’s lower boundary. Nonetheless, most indicators seem to have flipped massively bearish, accentuating the sellers’ grip on ETH. For instance, the Moving Average Convergence Divergence (MACD) recently affirmed a sell signal that occurred when the 12-day Exponential Moving Average (EMA) crossed below the 26-day EMA. In addition, the MACD is moving lower beneath the mean line, thus validating the bearish outlook. At the same time, the Relative Strength Index (RSI) emphasizes the aggressive bears’ grip. Hence, Ethereum’s path with the least resistance will remain downward in the short term, perhaps until formidable support comes up. Holding above $1,700 is crucial for the resumption of the uptrend and will shift the bulls’ focus to $2,000. Otherwise, closing the day below may deepen the sellers’ reach, with losses gaining traction to $1,600. Ethereum Price Intraday Levels Spot rate: $1,732 Trend: Bearish Volatility: High Support: $1,700 Resistance: $1,880 and $2,000
COINBASE:ETHUSDShort
by CoinGape
1
ETHUSD Descending triangle? Big Downside?ETHUSD looks to be painting a descending triangle on the 1D chart. A recently completed H&S has sent eth further down, most likely to test the triangle support ($1700), I expect a bounce there for a potential long entry and a potential retest of the upper edge of triangle (~$2000)for a ~15% return. Breakout of triangle to the downside would likely lead to Support 2, but potential down cost averaging if you want to try and front load at support 1. Careful with catching knives though. ***THIS IS NOT FINANCIAL ADVICE***
COINBASE:ETHUSD
by j0v8008
7