Weekly Analysis - ETH via Ichimoku by TheSocialCryptoClub

Good weekend everyone,

The Crypto Frog uses its Ichimoku Analysis Process by looking at a glance at the BINANCE:ETHUSDT Daily chart using the “Crypto Market Settings” for the indicator as 10-30-60-30:

Macro Trend Analysis using Kumo:

• Tendency: steady uptrend for about 40 days
  
• Price: over the Kumo, confirming the uptrend
  
• Width: particularly thick, indicating the strength of the trend.
  
• Evolution: expanding very fast; therefore indicates an overbought situation.
  

Static Supports and Resistances in the area:
Supports

• 3051-3017 strong support defined by the Senkou Span B
  
• 3325 defined by a Chikou Span pseudo double-top
  
• 3800 defined by historical Tenkan Sen during the past all-time-high
  

Resistances

• 4000 psychological resistance
  
• 4183-4364 considering the past all-time-high and closure identified by the Chikou
  
• 55600-55800 strong by Senkou Span B and Kijun multiple times
  

Dynamic

• Tenkan: always under observation also slightly flat on the 3500 level approx.
  
• Kijun: 3450 it is also moving near the Tenkan.
  

Volumes:
Volumes are stable with a slight decrease.
Heikin-Ashi:
Starting from the beginning of the month a series of green Heikin Ashi candles are promising, in particular for the presence of a lot of candles without shadow underneath.

Fibonacci
CryptoFall, which identifies Fibonacci levels shows us a positive sentiment and places the 0 upwards on 5000 and we are now into the upper area of 0.236 right on 3820.
Further level is the 0.382 on 3090 that represents the lateral moment before the actual leg-up.

In conclusion, for Etherium we are at a ​​we are at a turning point, volumes are decreasing and we have a short-term sideways momentum (flat Tenkan) while a strong mid-term uptrend (Tenkan-sen and Span A have a pronounced upward angle) but a promising Heihin Ashi.

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