The Price is in a fine down channel but it has been rejected during the growing up with a triple head. then it is very possible to go about lower bound of the channel. TP#1 is somewhere about next support level. and SL is a little above
Ethereum support line probably is the line that below the current price.
The Resistance trend line is generally parallel to support line. According to this idea the resistance line is the line above the current price.
I created "up trend channel pattern". In this pattern, the price moves in a parabolic trend. I drawed parabolic line as a resistance....
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For those who have been following our updates and charts on Telegram, you remember that we've posted the same chart back in December 2018 pending the completion of the green IH&S. At this moment, the market seems to...
Currently down some 88% off it’s all time high, ETH is trading around $164. Since December 2018 lows, price action has consolidated into an ascending triangle, with price currently trading above the triangle. Which is typically bullish. Formations such as ascending triangles tend to retest for a pre-flight check.
But what’s currently peaking our interest...
Has broken out of an ascending triangle/bullish pennant, and is currently retesting the formation to establish support.
ETHBTC is looking more interesting,
I published a video about the incoming possibility of a BTC pullback and ETH hedge.
Upon ETHBTC, symmetrical triangle breakout our targets are:
Part of my previous analysis:
Short term, as mentioned in my BTC' analysis, i think the market will go sideways this weekend, making an ABC correction. So maybe a bit lower, towards 161/162 and than up towards 169/173 and than one more drop in the 150/160 zone. Can't say i am very sure about this ABC , but it's my short term view for ETH now and don't have...
Ethereum as number 2 cap during " great depression on Bitcoin" (3200$/per Bitcoin) was worth 82$.
Upon Bitcoin rebound was among the first one uptrending and gaining most thefore uptrended 82-157$ (while Bitcoin was moving toward 4200$ and failed in "previous round").
In % terms that is nominal USD gain of 91% which is very impressive having on mind we talking...
Altcoins already running.. looks like a major marketreversal is in the making.. This Fractal already printed 2 times.. Ethereum to 0,6 BTC until mid August..?! 1600% is possible imo , if this is the market turnaround..
I started with the ETH' uptrend a few months ago and it first i was drawing an upwards channel from the Dec low and changed it to this triangle after we got rejection at the 160ish again in Feb. So after seeing it fail to reach the high of the channel a triangle was making more sense. Through out Feb and March we could see it was finding support around the 130....
While the price is above the support 0.02735, beginning of uptrend is expected.
We make sure when the resistance at 0.04175 breaks.
If the support at 0.02735 is broken, the short-term forecast -beginning of uptrend- will be invalid.
The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
Trade Duration: Short
Trade Direction: Short (sell)
Risk: High (margin trading is extremely risky and you can lose your entire balance)
Our Entry Zone
0.034200 - 0.033000
Our Stop Loss: 0.036079
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Hi there. Price is forming a continuation pattern to the upside. Keep an eye on the current fib line, because price can easily start to move impulsively or wait for the price to test the 0.786 level and watch strong price action for buy.
Technically a good entry level should be around $135:
- The trendline from the bottom start to act as a support
- Different Fibo 62% and 50% are in the same area - around $135
- Previously worked strong price level
From the technical perspective, this level should be pretty strong, add here some fundamentals, watch closely what BTC does, do Your own research,...