Ethereum topped out at our level at $1235, which was our target from the last report. Momentum quickly faded and we have since rejected that level. Currently, the price action is meandering in the value area between $1017 and $1235, however the price action is rounding off, and there is little buying interest. We should see support from $1017 should we fall...
$ETH.X Analysis, Key levels & Targets
Ok… I posted my last chart from Jan 17th… you guys will get a kick out of it… It is down below… nailed it… LOL
So where from here??
So far, ETH is consolidating on at the 200 Weekly moving average and currently slightly below it. If you’re ultra long this might be a good place to add… but I feel like there could be...
Quick sellout to position us back under 1150 critical with a low off initial pattern support (blue); look for possible reversal at this zone or the second green line.
A third dashed green line was added to represent an average of the two supports and a few adjustments were made to better predict the lower point.
If the lower green trendline is broken assume...
After selling pressure above $1250 ETH is testing a very important – but not strong - support level at $1105.
A monthly close below this level could be really a disaster for Ethereum, as it will trigger a 40-60% fall.
Except some local stops there is nothing strong to support the price.
Be Careful with leveraged longs!
Intraday - We look to Sell at 1173 (stop at 1216)
Short term bias has turned negative. Previous support at 1200 now becomes resistance. 1193 has been pivotal. 50 4hour EMA is at 1175. 20 4hour EMA is at 1169. Preferred trade is to sell into rallies.
Our profit targets will be 1063 and 1033
Resistance: 1150 / 1200 / 1250
Support: 1100 / 1050 /...
Doesn't seem like this is a strong divergence on the 24m for this long position...
You could argue that the momentum is a double bottom because it's not really showing an uptrend.
So I will wait, and analyze this as more time passes.
We do have a secondary long position as back up though!
Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset. Through the decline, it has been one of the worst-hit coins, performing poorly compared to the other cryptocurrencies at this time....
ETH has broken down the uptrend channel.
Ethereum is moving in the liquidity zone within the downward channel, with the price now under liquidity.
Trading volumes show interest in the drop in price.
Price and RSI have formed a bearish divergence at 30m Timeframe.
I expect further price declines if ETH fixes under the upper boundary of the descending channel.
The 24m divergence happened, however I slept through it lol.
No big deal, there's always another trade :)
I just wanted to explain on the 24m chart because last night I posted the 4 hrs chart with my plan.
Hope this articulate what triggers some of my trades.
Hope all is well. Never fomo, if you miss a trade, just enter at the next point of confluence
Ethereum – the world’s second-most famous blockchain network – is a platform for creating decentralized applications based on blockchain and smart contract technology (a command that automatically enforces the terms of the agreement based on a given algorithm). Its cryptocurrency is listed under the symbol ETH and is also used for various transaction costs on the Ethereum network, such as gas fees (which can be infamously high at times).