alanmasters

Ethereum Mixed Signals | Next Bullish Target At $185 + Support

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
Ethereum ( ETHUSD ) broke and managed to close above EMA10, something not possible for the past 5 days.

We can see the 3 white soldiers' candlestick pattern on the chart above. After the retrace, this pattern can signal that additional growth is coming.

Right now ETHUSD is facing resistance in the form of EMA50 which needs to be broken before $185 can be reached.

If ETHUSD moves down, the immediate support is sitting at $173.70 (EMA10).

If EMA10 breaks, the next support is sitting $170 and very strong support is available in the range of $167 - 168.

On the way up, the immediate resistance is now EMA50 (magenta line) followed by ~$180. If $180 can be broken with good strength and volume , $185 goes next.

Looking at the chart as it is now, I am getting some mixed signals leaning more towards the bulls short-term... Additional time is needed for better and stronger signals.

Thanks a lot for reading.

Namaste.
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Comments

Thank you for the analysis. I'll be waiting for clearer signals then.
ETH/BTC is bearish, but price will be reaching next support zone soon. We'll see what happens then.
+1 Reply
alanmasters Harry_Seldon
@Harry_Seldon, I'll check ETHBTC today.
Reply
Hi alanmaster, thanks for the chart. I actually had this as a short down into the 150's, which has now played out and profit taken. Can you tell me if you are still/currently bullish on this? As at today? 25/10/2019? Thanks
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