Bullish On ETH/USDThe long Wick rejection and the recent whale move in the crypto market sustain my Bullish Bias. Still, we need to be more careful for stop hunt and well manage our risk. by Jolly4XUpdated 332
ETHEREUM, back to $4,000?!Since May 20, ETH has risen by almost 30%! It stopped at $3974 and hasn't come close to reaching $4000. In my opinion, it's only a matter of time. I'm a buyer of ETH. Here's an interesting setup in the making: Back in the OTE zone Rebound on Order Block Initial liquidity will be taken at $3525 before heading for the $4000 psychological zone! Feel free to subscribe and boost this post if you enjoyed my analysis, and tell me what you think! Happy trading and a great week :) Longby InfiniteY2211
Bullish UnlocksA day in crypto can be like a week in 'normal life'. Since we last wrote this column, the SEC all but approved an ETH ETF. A first major bill to regulate Crypto, known as FIT21, went through Congress with bi-partisan support. Republican Presidential Candidate Donald Trump started accepting donations in Cryptocurrency and publicly voiced support for the industry. President Biden's administration, concerned to be alienating pro-crypto voters for no obvious gain, quickly followed suit in altering its course. Industry insiders report that the hostility that the Crypto industry previously faced in Washington has reduced substantially in a matter of a week. Suddenly policymakers are looking for 'dialogue'. This has emerged most visibly with the approval of Exchange Traded Funds (ETFs) for Ethereum Spot. Until as late as last week, odds for an ETH ETF approval by the May deadline seemed exceedingly low. The SEC was instead looking to fight the Ethereum Foundation in court and claim that ETH is an unregistered security. But as political winds shifted, so did the SEC decision. The change of mind was clearly not priced in. Ethereum recorded what is known as a 'god candle' by gaining nearly 20% in a day. Before the ETF can actually start trading, another administrative formality will need to pass but providers such as BlackRock and van Eck look on track to launch trading for the product in the next weeks. In other major news, Mt. Gox, the OG Bitcoin exchange which was famously hacked in 2014 is starting to refund customers. Over the years, its bankruptcy administrators managed to recover large sums of stolen Bitcoin after much legal haggling. Mt. Gox transferred all of its 141 686 Bitcoins, valued at approximately $9.6 Billion, into new wallets to prepare for the repayment. The repayments need to happen by October 2024 at the latest. Unlike in the FTX bankruptcy, users will receive back actual Bitcoin. But with a 300x mark-up as the price grew substantially since 2014. Another group of users has also reason to celebrate. Gemini Earn was launched in 2021, and its users were able to lend crypto to the now bankrupt lender Genesis. Genesis declared bankruptcy after the collapse in 2022 of hedge fund Three Arrows Capital, and the exchange FTX. Retail lenders at Gemini Earn lost their funds. However, Genesis, which is part of the larger Digital Asset Group (DCG) has agreed in a court case to reimburse Gemini Earn's customers with $1.1 billion. Similarly to Mt. Gox, the $1.1 billion will be paid in kind in Bitcoin rather than US Dollars. Both events together could have an impact on the markets in this year. Assuming that at least some of the refunded customers will be looking to sell, billions in new supply could enter the market. This might be bad news. Anticipation of sell pressure has certainly contributed to keep enthusiasm in check. In reality, there are plenty of reasons to be optimistic. The concept of a 'Bullish Unlock' in crypto means that supply coming on the market could actually be a positive thing. Traders have known that the Mt. Gox funds will eventually enter the market. Similarly, the Winklevoss Twins, owners of Gemini Earn, always seemed likely to be able to claw back funds from DCG to refund their customers. If these supplies can be unlocked without driving the price down, it would serve as a very promising sign for the bull market. Meanwhile, the good news on the judicial and political front keep accumulating. And of course the ETH ETF approval could be a major demand driver. Interesting times lie ahead.Longby OGcoinrule116
Will ETH bounce back?As we review BINANCE:ETHUSDT price action on the daily chart, a notable pattern emerges—a substantial falling wedge, traditionally indicative of a bullish reversal. This analysis comes at a critical juncture, particularly following the inflation data released on May 15th, 2024, which fuelled a general uptrend in the market. Ethereum capitalized on this momentum, marking a robust bullish candle on the chart. Critical Levels to Watch To sustain this upward trajectory, it is imperative for Ethereum to secure a close above the $3100 to $3200 range, which would signify a decisive breakout from the falling wedge pattern. This breakout is essential for confirming the reversal signal and setting the stage for further gains. Technical Indicators and Support Zones Ethereum is currently testing its 200-day Exponential Moving Average (EMA), which interestingly aligns with the lower trendline of the wedge. This confluence enhances the significance of the $2750 to $2800 zone as a critical support area. Should prices stabilize or rebound from this level, it would reinforce the bullish outlook. Market Sentiment and External Factors The market is keenly awaiting news regarding the potential approval of an Ethereum ETF. Despite high expectations, there is a prevalent sentiment that the SEC might reject this proposal. A rejection could exert downward pressure on Ethereum, possibly leading to a breach of the current support level. Under such a scenario, the price could retreat to the next significant demand zone, identified between $2200 and $2400. Strategic Considerations for Traders Given the potential volatility stemming from regulatory news and technical thresholds, traders are advised to exercise caution. Monitoring these key levels and staying abreast of market news are prudent strategies to navigate the uncertainties inherent in cryptocurrency markets. by MudrexUpdated 225
The flippening $ETH>$SOL going forwardAs I've shared on many of my recent crypto charts, I've had a hypothesis that the narrative around CRYPTOCAP:SOL is coming to a close and I think BITSTAMP:ETHUSD and ETH related coins are about to overtake SOL and SOL related coins. I think CRYPTOCAP:SOL and CRYPTOCAP:SOL related assets can see one large exit pump to convince people to stay long, but in reality those coins will be starting longer term downtrends. The play going forward is to get into ETH related Assets. People have largely given up on many of the ETH related names (AAVE, APE, BAL, CHZ, CRV, KNC, SHIB, etc. to name some) because price has barely moved or has retraced back to support levels since last October. However, I think that's about to change. I think these assets will now outperform SOL related assets going forward. Let's see how it plays out. Longby benjihyam224
ETHBTC May 28, 2024: A Bullish FlagAfter a 20% run up with the ETF approval on May 20, 2024, CRYPTO:ETHUSD started to form a bullish flag and moved out on May 28. The flag is above the rising MA-10. The move out provides a buy point here ($3900) with the $4700 target Longby longsonvn2
Ethereum will give you a Ferrari in the futureIn the big picture, extremely BULLISH!!!!!! !In a small picture!: MACD crossing down is very likely. Because macd has failed crossing, which makes the next crossing more realistic. Crossing down means BUY when the price is in red and there is no sign of green. Support points or resistances are required Under 3000k soon. The landing level is not known today, only time will tell. I could be wrong, but I could be absolutely right MoralDiscipleLongby MoralDiscipleUpdated 434388
ETHEREUM / DXY chart is telling us something.That we can expect new High's on this ratio But not to expect the kind of run that ETH experienced last cycle obviously . Going from $88 to near 5K was a barn stormer of a Bull run a 50X !!! If this continuation head and shoulder plays out The linear projection would give us a 7.5X Whilst the log target suggests 18x A match for what #BTC did last cycle ... interesting right. Thisis still impressive for a mature network and should provide plenty of fuel for the #altcoinsLongby BallaJiUpdated 337
ETH IS IT POSSIBLE?I see lot of greeds around ETH, and i think we can see something similar as the BTC ETF event. A shakeout and a drop can likely happen, and it would be a gift if the price can drop till $3.300, a level that looks solid for a possible bounce. Main trend is bullish and actually there are no reason to look for a shortLongby CryptoForexGem114
ETH is primed upRecord low volatility after two years of accumulation, ETH is looking like a powder keg ready to explode. Longby GarsonUpdated 1110
$ETH retest of low $2ks before higher?While Ethereum looks bullish over the longer term, price would need to break above the two lines of resistance for the chart to stay bullish. If price rejects here, we risk a double top which would send price back to the low $2000s. I'm leaning towards a rejection as the base case here as sentiment is pretty extreme to the bullish side. Let's see what happens over the coming weeks.Shortby benjihyam112
ETHUSD. Short-termShort-term targets are at $4168, if we see a price drop to $3517, the low of wave 4, this forecast will change. More discussions on cryptocurrencies in the closed channel. Longby Financial_Wave112
ETH whales low volume signal has appeared! WHALES LOW VOLUME now put into action. Next is to wait until ETH WHALES say they’re ready to plunge. Whales low volume means BULL is ready to BULL RUN. Next move is to wait. Price target $3,900 Longby The_ForexX_MindsetUpdated 2213
Ethereum downside or breakout?Watching Ethereum (ETH) closely after it reached a high of $3,040 on a 4-hour timeframe chart today. If support at $2,923 crumbles. A break below this level could send ETH down to $2,874. However, there's also a chance for a breakout on the upside. If Ethereum can overcome resistance at $3,100, it could surge towards $3,160 or even $3,200.by Z4F4RUpdated 1113
ETH GARTLEY 2500 INCOMINGHere is an epic "potential" eth Gartley. Aiming for a late June/July bottomShortby Cerberus6222
ETH updateAt this moment and in given time frame Target is 4020. Overall - All time High is on the way! Good Luck!by sunmikee114
ETH pullback? Eth appears to be at resistance and also I’m seeing some unusual amounts of eth being transferred to exchanges. Personally looking for price to move towards 2100-2500. THIS IS NOT FINANCIAL ADVICE Shortby SpaceCadetAcademy113
ETH bullBINANCE:ETHUSD Orange dotted - positive change in long term trending Blue solid line - best case short term bull trend Short Term Bull (60 day) + US Regulatory change of sentiment + ETH approved but not yet trading + Underpriced to other cryptos in last 90 day + 20% past climb on approval is relatively small Mid Term neutral (60-180 day) - Greyscale outflows - Potential for large dip Long Term Bull (180+) + ETF approval for other cryptos appears around 2-3 years off making BTC and ETH able to breakaway in market dominance. Longby straitedge225
ETH weekly flag breakoutafter retrace for weeks. finally see a weekly bullish Price Action. with flag formation BO price projection, next resistance at $5000. Longby EL_STOCKTROOPER115
ETHUSD Will Go Lower From Resistance! Sell! Please, check our technical outlook for ETHUSD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 3,752.5. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 3,510.9 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Shortby SignalProviderUpdated 224
Ethereum- Nice bullish chart structure indicates 5kLike BITSTAMP:BTCUSD and much of the crypto market, COINBASE:ETHUSD is also in a strong uptrend. A correction began in March and concluded at the beginning of May. After breaking out of the corrective falling wedge, the price rose again to the 4k zone, with a high likelihood of breaking above this important level at this moment If this occurs, I expect Ethereum to reach a new all-time high around 5k or even higher. I remain bullish as long as the price stays above 3.5k. Longby Mihai_Iacob8
Ethereum-scenarioHello everyone In the daily time, Ethereum is forming a complex correction pattern to complete wave 4 After fake breakout, the created ceiling that is clear in the picture can have a deep correction Good luckby drneowave0