ETH will trade at $160 in a week (+20%). Watch for these SIGNALS
Hello, traders!
Here is an advanced technical analysis for Ethereum based on chart patterns and technical indicators, PLUS an active trading strategy and trade signals! Enjoy reading this idea, and you’ll get exact instructions on how to trade Ethereum during this week and make profitable deals!
Based on technical analysis, there are numerous strong signals, suggesting that the uptrend for ETH/USD is active and is going to continue.
In particular, we’ve got:
An ascending triangle - a psychologically strong chart pattern. What this pattern means is that market participants have been selling ETH at $145 over the past two weeks, always putting a halt to rallies at the same price point, but that buyers are getting more and more bullish and stepping in at increasingly higher prices to halt sell-offs instead of waiting for further price declines. We know that an ascending triangle typically forms in an uptrend and is a very strong bullish signal. If the rally continues above the $145 (beyond the triangle), that will give new momentum to ETH/USD over the week and will drive the price at least to $160.
An ascending trend channel is being formed on a daily timeframe and is already encompassing more than 30 days. The trendlines of this channel slope in an upward direction, within which the price is making higher highs and higher lows. This dynamic represents a strong continuation chart pattern that confirms an upward trend signal.
Both quick (10-days) and slow (30-days) Exponential Moving Averages are increasing. EMA is a primary trend indicator. The fact that both EMAs (with short and long periods) are growing, and the ETH price is moving above the quick EMA, generates a buy signal.
Stochastic oscillator (5,3,3), plotted on a daily timeframe, has approached an overbought range. This means that a small retracement downwards is possible, after which the prevailing medium-term trend is going to continue upwards.
Today the following signal is active:
- Buy Ethereum at $135. You can set a Buy-Limit order or use a Market order at $135.
- Stop-Loss: $124 - the next significant support level.
- Take-Profit: $160 - the next significant resistance level.
- Forecasted P&L: +$250 or +190% (per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 2.3x
Now we’re expecting Ethereum price to break through and above the $145 resistance, after which we’ll get an uptrend continuation signal. Based on signals from a variety of technical indicators and chart patterns (mentioned above), I believe that Ethereum price will gain momentum over this week and will rise to at least $160.
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals. This will allow you to stay on top of the current Ethereum trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
Here is an advanced technical analysis for Ethereum based on chart patterns and technical indicators, PLUS an active trading strategy and trade signals! Enjoy reading this idea, and you’ll get exact instructions on how to trade Ethereum during this week and make profitable deals!
Based on technical analysis, there are numerous strong signals, suggesting that the uptrend for ETH/USD is active and is going to continue.
In particular, we’ve got:
An ascending triangle - a psychologically strong chart pattern. What this pattern means is that market participants have been selling ETH at $145 over the past two weeks, always putting a halt to rallies at the same price point, but that buyers are getting more and more bullish and stepping in at increasingly higher prices to halt sell-offs instead of waiting for further price declines. We know that an ascending triangle typically forms in an uptrend and is a very strong bullish signal. If the rally continues above the $145 (beyond the triangle), that will give new momentum to ETH/USD over the week and will drive the price at least to $160.
An ascending trend channel is being formed on a daily timeframe and is already encompassing more than 30 days. The trendlines of this channel slope in an upward direction, within which the price is making higher highs and higher lows. This dynamic represents a strong continuation chart pattern that confirms an upward trend signal.
Both quick (10-days) and slow (30-days) Exponential Moving Averages are increasing. EMA is a primary trend indicator. The fact that both EMAs (with short and long periods) are growing, and the ETH price is moving above the quick EMA, generates a buy signal.
Stochastic oscillator (5,3,3), plotted on a daily timeframe, has approached an overbought range. This means that a small retracement downwards is possible, after which the prevailing medium-term trend is going to continue upwards.
Today the following signal is active:
- Buy Ethereum at $135. You can set a Buy-Limit order or use a Market order at $135.
- Stop-Loss: $124 - the next significant support level.
- Take-Profit: $160 - the next significant resistance level.
- Forecasted P&L: +$250 or +190% (per 1 Lot with 10x Leverage)
- Risk/Reward Ratio: 2.3x
Now we’re expecting Ethereum price to break through and above the $145 resistance, after which we’ll get an uptrend continuation signal. Based on signals from a variety of technical indicators and chart patterns (mentioned above), I believe that Ethereum price will gain momentum over this week and will rise to at least $160.
If you like this analysis and would like to receive future updates - Please, follow me on TradingView!
If you follow me, I guarantee you will receive timely updates to this trading strategy in the future, including all new trading signals. This will allow you to stay on top of the current Ethereum trend and hopefully maximize your profits!
If you agree, please, Like this Idea - This would be the best feedback and encouragement for me!
To your trading success,
Monfex!
Trade active:
Hi, Traders!
Take a look at how precisely we timed the market yesterday by setting $135 as an entry price for going long!
At a current market price of $137.5, the floating P&L already constitutes $+25 or +18.6% (calculated per 1 lot with 10x leverage).
Now we are moving the Stop-Loss order to $135.25 to lock-in a minimum profit of 2.5%, and then we’re going to simply… wait!
Essentially, those who followed me on this signal will now realize one of the two possible scenarios:
Wait until the Bitcoin price reaches the take-profit level at $160 and realize the +190% return on equity (per 1 lot with 10x leverage).
Or, even if the price reverses downwards, get the minimum profit of 2.5% and then decide whether to re-enter long again (preferably, at a lower price), or reverse downwards.
Currently, the signal is active. I can confirm that $160 remains an active target / take-profit price, so you shouldn’t close your position.
To your success,
Monfex!
Hi, Traders!
Take a look at how precisely we timed the market yesterday by setting $135 as an entry price for going long!
At a current market price of $137.5, the floating P&L already constitutes $+25 or +18.6% (calculated per 1 lot with 10x leverage).
Now we are moving the Stop-Loss order to $135.25 to lock-in a minimum profit of 2.5%, and then we’re going to simply… wait!
Essentially, those who followed me on this signal will now realize one of the two possible scenarios:
Wait until the Bitcoin price reaches the take-profit level at $160 and realize the +190% return on equity (per 1 lot with 10x leverage).
Or, even if the price reverses downwards, get the minimum profit of 2.5% and then decide whether to re-enter long again (preferably, at a lower price), or reverse downwards.
Currently, the signal is active. I can confirm that $160 remains an active target / take-profit price, so you shouldn’t close your position.
To your success,
Monfex!
