Yesterday we talked about Bitcoin and possible bullish signals. This time I would like to offer you a discussion for Ethereum. The market looks interesting from Technical and Fundamental points of view.
Ethereum Constantinople Hard Fork will be able to support the market and increase the demand for the coin. We should consider this fact when we think about...
Ethereum is in the possible formation of an Inverse H&S. RSI had a brief drop below the 50's line in the last 24 hours and fast turned back to the positive side and is currently having the midline as a great support, demonstrating the balance of forces with little advantage to the bulls.
In the MACD...
I have outlines two possibilities for Ethereum.
On the left is a simple correction, that should top out at a max aprx $189.00
A price over $260 would invalidate this idea.
Keep in mind, that this current area of $147~ is a resistance zone and may be the top of this correction.
On the right is a complex correction that could top out at around $650.00
ETHUSD along with BTCUSD seem to be forming symmetrical triangles. As of now both of ETH and BTC's monstrous rally was halted by the upper trend line. The moving averages are not yet BEAR, in fact they do not look bearish at all. However, StochasticRSI is approaching oversold territory on the 2H timeframe. If we get a reversal off that upper trend line, look to...
What makes this textbook?
Volume decreasing during up trend
Volume consolidation decreasing from peak to peak
Though is dragging (even falling below)
second peak with low volume (three timex denied)
You can average your shorts in now with a stop above the first peak. However, waiting for the support (bearflag) to break downward VIOLENTLY is the confirmation....
ETH is currently trending along a upward sloping trend line. It could be an area for the price to bounce of. In addition, the RSI is bouncing off the 40 RSI support level that has been held for 11 days.
The $151 to $155 is a key resistance level to watch as it the price has been rejected multiple times in the past. If it breaks that area, a key area to watch is...
The last move had some good volume behind it, tried to retrace a bit but came up very quickly.
If the setup plays out it can have a good little run from here as well - I am not clear if I will take a trade..
Thus potential long on BITFINEX:ETHUSD
Just like in the case of the other major coins, the price of Ethereum has also managed to position itself above the 20 days Moving Average on the 8th of February, being stimulated by the increased trading volumes after 1 month of losses.
It's important to notice that the indicators which have announced the 45% increase which was registered since then are the...
After a strong move from 120 to 150, ETH price consolidated the last 2 days in the range 140 -150.
Trading volume looks very promising, as active traders poured in. I would say the robust momentum will continue . Recommend long position to ride the trend.
In a previous post, a Bullish Butterfly was developing on the ETH USD Daily Chart at around $103. That pattern still seems to be in play, which may give an indication that if short move down was coming to the recent Bullish Momentum, it would come relatively soon.
The pattern would also indicate a much stronger move in the upcoming months of March and April. I...
The ETH/USD currently plummets by 3.07 percent in the last 3 hours and is performing at $148.92.
Moving average divergence/convergence: Bearish Divergence.
Relative strength index (RSI) is seen near over bought territory at $65.16.
The ETH spot price is testing the $145.19 support level before it projects another buying signal.
Ethereum (ETH) is the biggest winner from the top trio, it surpasses Ripple and it keep doing donnuts with ups and downs in lower time frames, good for scalping, or fast swinging for 1-2% profit.
If the rule will be applied again, it would be a down move till $145
There are lower lows, lower highs, Stoch RSI is crossing to bearish
But don't forget, we are in...