Hello Traders Investors And Community, welcome to this analysis where we are looking at ethereums 4-hour timeframe perspective, the recent events, the current formation and what can be anticipated from ethereum the next times. The resistance I mentioned ethereum had on daily timeframe perspective now confirmed properly as a strong resistance which established over...
ETHUSD reached withing 1-1&1/2 pips of my last measure move target($419) from the 1day chart inv h&S pattern it successfully broke out of. . .if ethusd can keep price action above this purple neckline and confirm the double bottom breakout it could climb to $674 probably within the next couple months....but being right at the neckline, it can also easily get...
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ETHUSD 4D: 80% CORRECTION / BULLS IN TROUBLE (NEW)
Looking at the 2-Day chart we see $470 is the start of the valley that was created in August 2018 and to this day still hasn't broken out of it
Last summer the price of ETH hit around $4460 and never even got a daily close above $316.
This year we had the coronavirus wave down which we found the 2nd swing high of the downtrend drawn on the chart.
The price of ETH soared in July. The market has risen by over 60 percent in just one month. From the technical point of view, the price has broken key resistance levels at the line drawn through the recent tops and also the resistance set by a previous high near 284 USD.
Looking at the whole structure since the end of 2018 we may spot a potential double bottom...
This is not a financial advice.
This coin has has a great potential and is potentially going for a long term Bull Run.
Volume spiked exponentially suggesting a potential bull run.
Trade suggestions are given in the chart
Buy : 360-370
Target 1 : 465
Target 2 : 539
Target 3 : 666
Target 4 : 740
Target 5 : MOON
Stop Loss for T1 : 364
Stop Loss for T2 : T1
Three white soldiers pattern
Basically three big green wicks in a row
Looks like clear sailing up to the trend line in a bull market like this,
Possible ascending scallop formation for the whole price range aswell
Team Sparkster's analysis for Ethereum hit another home run last week as the Monthly time-frame came to a close.
High time-frames are all bullish with strong momentum.
However yesterdays 'flash crash' has dampened short-term momentum and we may see a couple of days...