#ETH Falling wedge ⏳️ Now we will break down support level. Then possible Bounce from first support zone. Will open Short position for short term trading. Overall it is bullish pattern
Greetings,
ETH is in a consolidation triangle and could make an impulsive move upwards for a third touch of the trend line or a breakout of the triangle.
The current bearish flag (on the 1hr timeframe) appears to be too textbook for an actual downside move.
Timing would suggest the move starting between 6pm-9pm EST as this is when crypto typically has its weekend...
A tough rejection at 50EMA sends ETH down to the previous average low and outside pattern.
We now look towards a possible double-bottom with recovery expected over the weekend.
Unfortunately this could be the start of further correction, noting next support around 2800.
www.tradingview.com
For Ethereum, we're observing a chart pattern that has developed a weak divergence, and we believe it is now correcting wo the end of Wave 4 of Wave (3). We plan to place multiple entries; our first entry was at the upper range of the Wave 4 target area around $3200. However, the price has continued to decline. We are now looking to DCA and make a second entry at...
This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful...
Hello there,
A potential turning point is emerging as Bitcoin investments experience outflows while Ethereum, alongside altcoins like Avalanche, Cardano, and Polkadot, stands out, indicating a shift towards diversification among traders. The successful launch of spot-based Bitcoin and Ethereum ETFs in Hong Kong underscores the cryptocurrency market's global...
MAY 10 ’24 - ETH - FORECAST
This is a prediction of the next 24 hours
I use a combination of indicators from ChartPrime and luxAlgo.
The Green
is the daily channel extrapolation continuation ranging from the middle of the previous day’s extrapolation
The Orange
is the projected extrapolation forecast based on the current day
Happy Trading!
-MV
project W/L 11:3
Price continues to hold above 2878 keeping us in position for a possible double-bottom recovery.
We should expect this to carry out by or on 5/14 to brings us back above 3k.
A slight ascending could still be in play if a correction occurs after recovery.
www.tradingview.com
Take a look at our analysis for ETHUSD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 3026.1.
Considering the today's price action, probabilities will be high to see a movement to 3253.6.
P.S
Please, note that an oversold/overbought condition can last for a...
ETHUSD has experienced a notable upward surge recently, characterized by an impulsive move in its price trajectory. This trend suggests a potential opportunity for a long position in the coming week. As the market currently hovers around a critical juncture, marked by a zone of interest, the possibility of a structural breakout followed by a retest presents...
Using the MACD on this monthly timeframe we can see a clear cross allowing bullishness on the monthly timeframe for ETH
Just another example of why the market should act very bullish currently.
MACD is a great indicator.
Hello,
Here's my plan for ETH in the next coming days. I think this will play out perfectly.
Just broke down the mini downtrend and I expect to hit the resistance on the bigger downtrend. We will see if it gets rejected from there or tries a breakout.
I'm entering a long trade for at least 3-4%
The just released CPI data was quite well received. Despite the results being in line with expectations, the crypto market saw significant volatility, with Bitcoin up 4% to $64,000 with the Maxpain point now at $62,000, and moving some short-term sellers into the hedging zone.
The options market reacted significantly, with all major term IVs pulling up quickly to...
Rejection sets in at 50EMA/pattern support to prevent double-bottom recovery.
Price now sits at 2878 low and poses a higher chance for further correction.
Our hope now lies in a W1 inverse hammer which would require us to maintain consolidation between ~2875-2950 until EOW.
www.tradingview.com
U.S. CPI data for April will be released this week, and the market expects that CPI will fall. After weak employment data was released earlier this month, assets rose, and BTC also rebounded sharply at the time of the release. Therefore, if CPI data can further confirm the role of current monetary policy, then the market correction may end.
On the other hand, the...
