ETHUSD is ready for a moon journey?

Before the end of the year there will be a partial transfer to POS protocol. ETH will reach previous heights once it start work.

ETH repeats chart of BTC in the long and in the short term, so if BTC according to our previous analysis succeed then ETH has a great chance to gain previous price height.

According to the Technical Analysis, a triple convergence on indicators is shown on the daily timeframe. If price decrease continues then it is just a sign of further consolidation before rise. Moreover Fundamentals about POS transferring suggest that the Triangle will be broken upward and it will enhance growth speed

Comment:

As you can see the price touched upped edge of the channel and follows our analysis

Trade active:

Still requires stronger BTC price movements to start growing to our target

Comment:

The price accurately touched the upper edge of the triangle right in the place where we forecasted at $478 level. Currently the price deepens to the area of 435 where the rebound should happen.

When this rebound starts the ETH price can break out from the triangle upward if BTC market becomes more confident. If there are still uncertainty and fluctuations the ETH price will move sideways till the end of the triangle with lesser price standard deviation time to time.

Trade active:

Ethereum replicates Bitcoin mood to go higher, the price confidently goes to the local resistance level of $490. Once it manages to break through it the price should come closer to the Ichimoku cloud around $520 drawn at the chart. The cloud acts now as a major resistance. If BTC is pumped again then ETH price should enter it, touch its top edge and consolidate somewhere in the median. Up from this moment there should be sideways trend and to gain volume and reach our Mid term target $636

As the short term price action backs to bullish mood which is always followed by correction waves, there will be a lot of swing trades opportunities. The most attractive will be 5-10 minutes trades buy low wait the top of the wave and sell high then wait bottom and buy again. Plan ahead for the possibilities and be prepared for these scenarios if they appear. If any swing trade opportunities appear, they will be shared with our subscribers.