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ETH → Ethereum Falls Back to the Support Zone. Long or Short?Ethereum retraced to the Support Zone, following the rest of the crypto market in a pullback. Now that ETH is on the Support Zone, can we expect a bounce? How do we trade this? 🤔 I think it is probable that we get a bounce back up to the Daily 30EMA, but I do not believe ETH will break it. We may have witnessed the first leg down in a 2-legged pullback for ETH and Bitcoin. ETH has some long tail bars at the Support Zone, but with no good follow-through as of yet. It's reasonable to think the bulls will make an attempt to buy but with little momentum, which makes that Daily 30EMA ribbon an ideal resistance target as it previously acted as support. The rejection at the 30EMA will likely bring the price back down to the Support Zone and with that many points of contact, increases the probability that the price will fall through. I expect that next support area to be at the Daily 200EMA of which the price will be around $2,000. The psychology of that even number being at the 200EMA after a 2-legged pullback in a bull market screams support zone target. Once we hit this price area, I am looking for a strong bull signal and confirmation bars to enter a long. 💡 Trade Idea 💡 Long Entry: $2,080 🟥 Stop Loss: $1,920 ✅ Take Profit #1: $2,240 ✅ Take Profit #2: $2,560 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Four legs up in a bull trend, final strong bull candle followed by a strong bear candle. 2. Contact with Resistance Area above $2,500 3. Strong Reversal Candle closing below Daily 30EMA 4. Likely to fall below Support Zone, look for Long Entry at Daily 200EMA 5. RSI at 40.00 and Below the Moving Average with a gap to fill, supports a slight pullback and then fall. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
INDEX:ETHUSDLong
by TraderEngineering
1
ETH → Ethereum Reversal? This Trade Setup Takes Advantage.Ethereum has shown great signs of bull strength as Bitcoin and the crypto market burn hot into this bull run. The time for entering longs on the higher timeframes has likely come to an end. So is it time to short? How do we trade this? 🤔 ETH does not have any sell signals yet, but we did just break into a major resistance area at $2,500. With four pushes up, Bitcoin near a strong resistance area as well ($46,000-$48,000), it's reasonable to start looking for counter-trend trades. I believe there is a short opportunity just below $2,500 down to the Daily 30EMA or the previous Support Zone. To justify this trade, we need a strong sell signal in the current price range around $2,600. Once the $2,500 price area is broken, a potential test of that area should once again fail and give us a confirmation bar closing on or near its low. At this time, It will be reasonable to short scalp ETH at a 1:1 Risk/Reward Ratio. 💡 Trade Idea 💡 Short Entry: $2,500 🟥 Stop Loss: $2,740 ✅ Take Profit: $2,300 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Four Pushes up from Breakout. 2. Entered Major Resistance Level. 3. Short Resistance Level with Proper Bear Signal. 4. RSI at 70.00 and above Moving Average, Supports Short. 5. Watch Bitcoins Response to Current Price Area. 💰 Trading Tip 💰 Never enter a counter-trend trade without the proper signal *and* confirmation. A signal bar will usually have a long wick, and a confirmation bar will follow shortly after the signal bar and have a strong body closing on or near its low or high (bear or bull). ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:ETHUSDShort
by TraderEngineering
1
ETH → Ascending Wedge, Double Top, About to Drop!? Let's Answer.Ethereum has a string of reversal indications that give us a picture of bearish price action. Are these data points enough to enter a short? How do we trade this? 🤔 Three pushes up, an ascending wedge, and strong resistance alone is not enough justification to enter a reversal trade unless you fade your position (small entries until the reversal happens). It's better to wait for a strong bear bar closing on or near its low below the 30EMA to provide enough probability to justify a reversal trade. If the price breaks below the Daily 30EMA and closes a candle with followthrough or a re-test of the 30EMA as resistance, a short entry is justified. Alternatively, if we find support at the 30EMA or get a strong bull bar closing near it's high, it's reasonable to think the price will hit the next resistance target of $2520.00. I would trade small on any long position this late in the trend as it's more likely we're about to enter a trading range or major pullback. 💡 Trade Ideas 💡 Short Entry: $2,150.00 🟥 Stop Loss: $2,250.00 ✅ Take Profit: $1,950.00 ⚖️ Risk/Reward Ratio: 1:2 Long Entry: $2,250.00 🟥 Stop Loss: $2,150.00 ✅ Take Profit: $2,450.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three Pushes up in Bull Trend. 2. Formed Ascending Wedge, Price Fell Out. 3. Potential Double Top, Wait for Break Below 30EMA to Short. 4. If Bounce at Support, Reasonable to Long to Next Resistance. 5. RSI at 55.00 below Moving Average, Indecision. 💰 Trading Tip 💰 Three pushes up, an ascending wedge, and strong resistance alone is not enough justification to enter a reversal trade unless you fade your position (small entries until the reversal happens). It's better to wait for a strong bear bar closing on or near its low below the 30EMA to provide enough probability to justify a reversal trade. Your probability is still inherently low, but catching a trend when it starts gives you more room for reward, that's the tradeoff. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:ETHUSDLong
by TraderEngineering
ETH → Blast to $2,500 then fall to $1,800? Reversal Time Near?Ethereum is far into its bull run from $1,100 to $2,300; with three pushes up and a Weekly RSI near the 70.00 level, and we're near a resistance level. Three initial conditions for a trend change. How do we trade this? 🤔 These conditions are great indicators that we're near the end of the current bull trend, but we don't yet have any confirmation that we're done. We're still in the bull channel, price is above the 30EMA and we're above the Support Zone. We need a break below the Support Zone with a strong bear bar closing on or near its low and the RSI to remain below the moving average. There is a strong possibility that ETH has enough momentum left to hit $2,500, especially if Bitcoin finishes its Measured Move to $46,000 and takes the rest of the crypto market with it. Until either scenario presents itself, we should remain on the sidelines and watch the price action unfold. 💡 Trade Ideas 💡 Short Entry: $2,080.00 🟥 Stop Loss: $2,210.00 ✅ Take Profit: $1,820.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Trend, Bias to Long. 2. Price Remains Above Daily 30EMA 3. Crucial Moment on the Chart. Remain on Sidelines. 4. RSI at 56.00 and below Moving Average, Bias to Short. 5. Reasonable to Short with Confirmation below $2,200. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:ETHUSDShort
by TraderEngineering
Ethereum is on crossroad.Hi guys, let's look at the current situation for ETHUSDT on 4 hour price chart. After breaking previous support at 1760 the price of ETH didn't recover much and continued it's fall up to next support at 1660, which I indicated in my previous review. After such a big price drop now we see that ETH price recovered all its losses. The previous support now became a resistance and it will be interesting to see where price goes next. I personally think that price will go to test support at 1660, just at a slower pace. But it also can break 1780 resistance and go above 1800. What you think about ETH price? Leave comments below. If this post is useful to you, you can support me with like/boost and advice in comments. Many thanks.
Short
by Real_CryptoRoy
2
#Ethereum Recovers versus Bitcoin, Next Stop at 0.072 BTC?Past performance of ETHBTC Ethereum bulls are in control as the coin tears to register new highs versus the greenback. Meanwhile, the coin reverses losses against BTC, looking at the formation in the daily chart. Overall, for now, the path of least resistance is northwards, and aggressive traders may look to align themselves with gains of April 11 and 12. Those two bars had high rising volumes and found critical support at 0.062 BTC, marking March 2023 lows. If buyers build on from here, ETH may rally to Jan and February 2023 lows in a refreshing retest. #ETHBTC Technical Analysis Buyers are upbeat, and ETH buyers are in control. The double bar formation of April 12 was capped with rising volumes on April 12. Subsequent gains on April 13 completed the follow-through, suggesting that the reversal is well-anchored. Therefore, per the current formation, any dip above 0.062 BTC may allow bulls to load on dips targeting 0.072 BTC or more if ETH bull bars are with expanding volumes. What to Expect from #ETHBTC? After weeks of lower lows that saw ETH lose roughly 20% versus ETH from January peaks, the trend is reversing. Buyers are now in the driving seat. Every contraction above 0.062BTC may offer entries for optimistic traders angling for March 2023 highs or better. Resistance level to watch out for: 0.072 BTC Support level to watch out for: 0.062BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Weekly Market Update - March 24 2023What Happened This Week? Bitcoin $BTC and ether $ETH hit 2023 highs this week, as the Fed raised interest rates but signaled a coming pause given continued banking woes. Takeaways: Banking woes continued as UBS bought rival Swiss bank Credit Suisse to stem a brewing crisis. In a coordinated action, the Federal Reserve and other central banks increased liquidity in the U.S. dollar funding markets, resulting in a boost for bitcoin (BTC) and ether (ETH) prices, which both hit 2023 highs. The Federal Reserve announced a rate increase of 25 basis points (bps), but signaled a coming pause. UBS Buys Credit Suisse in Bid to Avoid Further Bank Contagion: Following the collapse of Silvergate, Silicon Valley Bank (SVB), and Signature, this week brought further banking turmoil as Swiss bank UBS stepped in to rescue its rival Credit Suisse for $3.25 billion USD in a bid to avoid further panic in global financial markets. The Swiss central bank is also set to provide support for the deal with a loan of 100 billion Swiss francs backed by a federal default guarantee to help support the deal. Central Banks Join Forces to Increase U.S. Dollar Liquidity, Giving Crypto a Boost: The Fed, along with five other central banks, announced on Sunday, March 19, 2023, coordinated action to boost liquidity in U.S. dollar funding markets. This marked an important shift in market conditions and signaled a possible end to the quantitative tightening which has been a major headwind throughout the past year. The news helped to push bitcoin (BTC) and ether (ETH) higher at the start of the week, both reaching new YTD highs of ~$28.9k USD and ~$1,846 USD respectively. Prices then consolidated in the build up to Wednesday’s highly-anticipated Federal Open Market Committee (FOMC) meeting, with interest rate expectations changing dramatically over the past few weeks. Fed Raises Rates Again, But Signals a Potential Pause: Despite the recent bank failures and growing concerns around the banking sector, the Federal Reserve announced a 25 bps rate increase at the latest FOMC meeting on Wednesday, as they push ahead in their fight to tame inflation. The FOMC, however, signaled that rate increases may be coming to an end, depending largely on incoming data. The latest Fed dot plot , which outlines interest rate expectations from Fed officials, suggests only one more 25 bps hike is likely this year. Federal Reserve Chair Jerome Powell highlighted during a Wednesday news conference that the Fed had considered a pause in rates due to the recent banking crisis, but unanimously chose to raise rates given inflation data and the strength of the labor market. At the news conference, Powell stated “ if we need to raise rates higher, we will ,” which markets received as more hawkish than expected in light of the recent stress across the banking sector. This led to all the major U.S. indices sliding lower into the close, and crypto prices pushing lower too. Bitcoin Takes Mild Dip Following Rate Increase, But Remains Strong: Bitcoin (BTC) faced strong resistance throughout the week at the ~$28.4k USD level, before briefly touching below $27k USD following the Fed's latest policy decision. However, Bitcoin remains the main focus among crypto with Bitcoin Dominance reaching another year-high of 47.8%. XRP Has Strong Week, and Arbitrum Airdrops Token: In altcoin news, XRP was among the biggest gainers this week, with its price increasing by over 20% at one point as investors grew more confident that a ruling in the long-running court case between the SEC and Ripple would resolve in their favor, following a supplemental notice submitted by Ripple on Monday. The outcome of the case is being closely watched by many, as a positive result for Ripple could set a crucial precedent for crypto. Arbitrum, one of the largest Ethereum Layer 2s, with nearly $2 billion USD in total value locked (TVL), launched a token airdrop on Thursday , with 11.5% of the total supply going to eligible Arbitrum users and 1.1% to DAOs that operate on the Arbitrum ecosystem. The token will be used for governance relating to Arbitrum One and Arbitrum Nova. Read more about this and our topic of the week, interest rates. See you next week. Onward and Upward! Team Gemini *This material is for informational purposes only and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Gemini. Gemini, its affiliates and its employees do not make any representation or warranty, expressed or implied, as to accuracy or completeness of the information or any other information transmitted or made available. Buying, selling, and trading cryptocurrency involves risks, including the risk of losing all of the invested amount. Recipients should consult their advisors before making any investment decision. Any use, review, retransmission, distribution, or reproduction of these materials, in whole or in part, is strictly prohibited in any form without the express written approval of Gemini.
GEMINI:BTCUSD
by Gemini
#Ethereum Bulls Roaring, ETH May Rally above 0.088 BTCPast Performance of ETHBTC ETH prices are relatively firm versus BTC when writing, per the formation in the daily chart. Overall, buyers are in control, and the immediate trend is northwards. From the ETHBTC candlestick arrangement, the immediate support is 0.075 BTC coinciding with around April 2022 highs, a critical reaction level. #ETHBTC Technical Analysis After attempts of lower lows earlier this week, ETH bulls flew back on September 13, rejecting attempts to push prices even lower. From the daily chart, traders can find loading opportunities on every attempt lower as long as prices are held above 0.075BTC or this week's lows. The immediate target will be September highs at 0.085 BTC for aggressive ETH bulls. Meanwhile, traders waiting for a clear trend definition can wait for a clean break above 0.085 BTC, at the back of rising trading volumes, to initiate longs and ride the primary trend and the bull breakout of early August 2022. In this case, the first bull target will be 0.088 BTC or 2021 highs. What to Expect from #ETHBTC? Pumped by fundamental factors, Ethereum buyers are in control and would likely rally above 0.085 BTC and register new all-time highs. On the reverse side, deeper and unexpected retracements below 0.075 BTC will shift the momentum to bears. Resistance level to watch out for: 0.085 BTC Support level to watch out for: 0.075 BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Ethereum Bulls Has Strong Resistance at $2.2kPast Performance of Ethereum ETH prices are relatively stable, swinging, from a top-down analysis, in a bear formation pattern as per the candlestick arrangement in the daily chart. Even though traders are hopeful, expecting substantial recoveries, bulls should first shake off bears by closing above $2.2k in the immediate term. In that case, ETH may spring higher towards March 2022 highs. #Ethereum Technical Analysis There are hints of strengths going by the formation in the daily chart. After sharp losses in the first two weeks of May, ETH prices stabilized before inching higher. However, the immediate resistance lies at $2.2k, marking May 12 highs. While traders may unload on dips, selling on every pullback, optimistic traders can wait for a clean break above $2.2k before loading and riding the rising tide. Preferably, the breakout should be with rising trading volumes confirming the losses of May 12 as climactic, marking the end of the bear run. On the reverse side, losses below $1.9k would pour cold water on bullish prospects as ETH snaps back to the dominant bear formation. What to Expect from #ETH? ETH bulls are confident, pinning their optimism on contrarian investor sentiment and other supportive fundamentals. Nonetheless, sellers will remain dominant as long as ETH is below $2.2k. Resistance level to watch out for: $2.2k Support level to watch out for: $1.9k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
ETH - Interesting imminent movement ahead.In the next few hours we could see some more action in the price than what we have had throughout this beginning of August where the price has been oscillating between lows of $ 350 and reaching over $ 400 on a couple of occasions. If the triangle formation is fulfilled, we could see another impulse in ETH that would oscillate around $ 500, giving us a continuation to the new bullish rally that apparently is in play and that where now in view of 1h we can almost see that the moving averages 100 and 200 are almost very close. This point is a Fibonacci pivot between the $ 625 mark to watch for future long entries. In the event that the price corrects (in daily view it is still oversold) the first levels to consider would be $ 350 and around $ 325, which would allow us a lower price action to increase the purchase while waiting for a better signal. Also in a 4h view we can see that the RSI is descending although this does not mean anything yet about the direction it will take. What is your opinion? Thanks for supporting this idea.
BINANCE:ETHUSD
by harribatu
Etherum price analysis by BUYANYLIGHTAs of late October 25, the expense of Ethereum (ETH) was in a hopeful example. The bulls recuperated control of the market and pushed Ethereum cost from $160 to $181, breaking over the 20-day Simple Moving Average (SMA). Coincidentally, apparently bulls are exhausted as they have failed to continue with the rise. At the hour of creating, the Ethereum cost is trading at the $179 level. On the off chance that we investigate the Etherum showcase as on Oct. 25 Bitcoin (BTC) cost expanded 42%. Different altcoins benefitted by this alarming upside move and Ether (ETH) rejuvenated 24.24% close by Bitcoin. The current week's 30.31% expansion from Ether backs up the case that the altcoin's worth action has been shooting beginning late. This week started with Bitcoin's breakdown from $8,050 which shook Ether and made its worth drop out of the sliding wedge guide to shape a twofold base at $152.95. Going before Friday's gigantic Bitcoin drove rally which saw BTC increment 42% and Ether 24.24%, the altcoin traded a murky territory, pushing carefully against the base trendline of the falling wedge. According to Buyanylight Company prediction may rise to 200USD, which is the top company in Dubai leading worldwide stage for LED lighting and has the world's biggest system of lighting makers. Their IEO will be live soon, you can visit their website for more information. Link: buyanylight.com
by awaisarbab_42
Ethereum Price Analysis: Bear Trap Successful Relative Strength Index: The RSI is currently at 59 points. It recently peaked at 65 which was a result of the rebound from the bear trap. At this point, the RSI will try to stay within range as we've seen previously. At the same time since the RSI is leaning on the high side, the market has plenty of strength to make another move. Bollinger Bands: The price is currently above the upper band. This means that the market will try to retrace in the next few hours. If that doesn't happen, the deviation of the bands will increase, causing the price to fall within range. It's really just a game of cat and mouse. Volume: There is a decent amount of trading volume at the time of writing. With the bear trap behind us I would expect the volume to decrease. However, keep in mind that a new week is starting and if Bitcoin makes any sudden moves, volume will increase. Ethereum Price Prediction In my previous Ethereum price prediction, I mentioned how ETH/USD will continue trading sideways but might test $180 a few more times. "My prediction is that Ethereum will attempt to hold the current support at the $178 level. ETH/USD might touch $180 a few more times, but it’s going to be hard to establish support at that level." It looks like ETH only touched $180 once but it did have a hard time holding that support. Ethereum seems to like the $170 level which is where it will stay unless Bitcoin makes any sudden moves. My prediction is that Ethereum will continue to trade sideways until Bitcoin wakes up. We have a new week ahead of us and crypto markets are ripe, I predict at least a 10% move in the next week. Read Full Analysis: Ethereum Price Analysis
BITSTAMP:ETHUSDLong
by nulltxmark