Looks like ETH is in a descending triangle (bearish continuation) pattern and getting squeezed on the daily chart. We could be looking at a 30% drop below current support to 100% retracement levels at 0.05 providing a great entry point for a long position. Wait for a clear bearish candle below support to confirm first move. I'm predicting a breakdown in the next...
Looks like we have completed a consolidation and are now looking at making a play towards the highs again. Volume will determine where this play ultimately takes us.
Ethereum looks bullish! 4H MACD + RSI
In my previous update I anticipated more gains for Ether and warned of a possible correction: Although the correction was quite deep (nearly 30% from the top), the short-term uptrend remains intact. So, more buying is quite possible. If the price moves beyond this pitchfork, the trend shifts to neutral with more sellers to come.
ETH almost at ATH price, strong resistance here but Daily MACD doesn't look like it is turning bearish yet. Two scenarios drawn in the graph. 1.236 would extent to price of 501 USD, where it would correct from this new upward trend.
Bulls in control but still multiple resistances under $400 psychological. If the bulls can break the correlation to BTC when BTC begins to consolidate, I believe we will see a run at all time highs in the next week. In order to break the correlation, a surge in volume will be needed. Always watching the correlation as a rejection of BTC from $5,000 is anticipated.
Los Angeles 8:01 pm ETH Bullish. Eth is currently moving sideways (NEUTRAL) but at 50 Stoch RSI, ETH should move upwards.
Given high short-term correlation between these two pairs (~0.9 @H4 chart), I'm joining them together into one idea. In both cases Wave 5 seems incomplete, so there is room for more gains.
Ethereum is on an ascending channel in the daily chart. It is forming a consolidation before likely breaking out. Use appropriate stop losses. Entry and exit points as described. GL!
ETHUSD may breakout to the upside by 282USD, and rise about 25% by 353USD.
My thoughts & info on the chart.. Let know what you think about this :)
A little speculation here, but since Iota hit my hard resistance and tanked, it's looking more and more like this has been a reoccurring theme throughout its short exchange life. Check out the peaks followed by a steep fall then reaching new highs. This is telling me that in a matter of days Iota should be on its way back up the ladder. However, the news about...
There are two ways to look at this chart from what I see. One, there is a double bottom, which also happens to form the bearish triangle. If there was massive volume displayed by the RSI, I would think this could be a reversal signal. But there isn't. Price didn't bounce with much bullish invigoration. The second pattern I see, is an inverse cup and handle...
Imo BTC segwit had less impact on etc than thought. The correction is behind us. The ETC up-trend continues. For all they are long: the uptrend might be still firm, if the resistance (pink-line) will break. So these next steps are possible: 23 to 28 to 35 USD. So I see an buying opportunity for all others at the moment with a short-term target of 22 USD. Let's...
The Ethereum blockchain has been released in 2015 and is therefore still very new to the vast majority of the public. However, sharp rises in value recently have caused more and more news stations to pick up on this topic, publishing more and more articles about it. The consequence was that many could in fact see that there is a huge potential behind this...