ETH rally to $570Money from Bitcoin will start to flow into alts now. ETH is due for rally for a long time now while Bitcoin consolidates.
ETHBEARUSD trade ideas
ETHUSD $360.00 topEthereum has started to reverse from the $360.00 level after following higher and surging to its highest level in over eighteen months. It maybe to early to call a top in the ETHUSD pair as a bullish pattern with a target of $490.00 is still in progress. Sellers need to move the ETHUSD pair under the $310.00 support level to encourage short-term sellers back into the game.
The ETHUSD pair is bullish while trading above the $300.00 level, key resistance is found at the $320.00 and $325.00 levels.
If the ETHUSD pair trades below the $300.00 level, key support is found at the $290.00 and $280.00 levels.
ETHUSD may have peakedEthereum is starting to appear uncomfortable above the $300.00 level, with the second largest cryptocurrency unable to make new higher highs on the daily chart. The ETHUSD pair could be vulnerable to heavy technical selling if Bitcoin starts to reverse from the $11,000 level. Overall, unless bulls start to breach the $320.00, the ETHUSD pair shows real signs that the monthly high may have already been made.
The ETHUSD pair is bullish while trading above the $300.00 level, key resistance is found at the $320.00 and $325.00 levels.
If the ETHUSD pair trades below the $300.00 level, key support is found at the $290.00 and $280.00 levels.
A second Chance to Buy in Ethereum...Midterm forecast:
250.00 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 71.
New trading suggestion:
*There is still a possibility of temporary retracement to suggested support line (250.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
* If you missed our first HUNT, you have a second chance to buy above the suggested support line (250.00).
Entry signal:
Signal to enter the market occurs when the price comes to "Support line" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Trade Setup:
We opened 12 BUY trade(s) @ 211.39 based on 'Valley' entry method at 2018.09.13.
Total Profit: 112222 pip
Closed trade(s): 15112 pip Profit
Open trade(s): 97110 pip Profit
Closed Profit:
TP1 @ 264.80 touched at 2019.05.16 with 5341 pip Profit.
TP2 @ 309.10 touched at 2019.06.22 with 9771 pip Profit.
5341 + 9771 = 15112
Open Profit:
Profit for one trade is 308.50 (current price) - 211.39 (open price) = 9711 pip
10 trade(s) still open, therefore total profit for open trade(s) is 9711 x 10 = 97110 pip
All SLs moved to Break-even point.
Take Profits:
TP3= @ 348.800
TP4= @ 393.550
TP5= @ 475.300
TP6= @ 534.700
TP7= @ 630.500
TP8= @ 822.550
TP9= @ 970.450
TP10= @ 1229.700
TP11= @ 1415.950
TP12= Free
ETHUSD $285.00 breakout resistanceEthereum has moved within touching distance of the $280.00 resistance level as the ETHUSD pair finally starts to follow Bitcoin higher. If bulls can breach the $285.00 level a bullish breakout towards the $320.00 level appears the most likely scenario. Traders should track the action on the BTCUSD pair as it is starting to have a strong correlation with other top digital assets.
If the ETHUSD pair trades above the $285.00 level, key resistance is found at the $300.00 and $320.00 levels.
If the ETHUSD pair fails from the $280.00 level, key support is found at the $255.00 and $235.00 levels.
ETHUSD struggles with May highEthereum is coming under slight downside pressure after the second largest cryptocurrency by market capitalization failed to break the May trading high. The bearish pattern on the four-hour time frame has yet to be invalidated, leaving the ETHUSD pair vulnerable to more losses. Overall the next strong directional move is unlikely to occur until the $230.00 to $280.00 price range is broken.
The ETHUSD pair is bullish while trading above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels.
If the ETHUSD pair trades below the $260.00 level, key support is found at the $230.00 and $205.00 levels.
ETHUSD still in the danger zoneEthereum has returned towards the $260.00 resistance level as the second largest cryptocurrency tracks the broader market higher on Thursday. Ethereum is still in the danger zone while trading below the $280.00 as the bearish head and shoulders pattern still remaining valid. Overall, the ETHUSD pair is still tracking BTCUSD fairly closely this week and has yet to break the strong correlation.
If the ETHUSD pair trades above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels.
If the ETHUSD pair fails from the $260.00 level, key support is found at the $230.00 and $205.00 levels.
ETHUSD right shoulder completeEthereum has slipped backed to key neckline support as the second largest cryptocurrency continues to trade in lockstep with Bitcoin. The four-hour time frame is showing that a right-hand shoulder has now formed, which completes the bearish head and shoulders pattern. Sustained moves below the $230.00 level are likely to provoke technical selling, with the $205.00 level the most prominent downside target.
If the ETHUSD pair trades below the $230.00 level, key support is found at the $205.00 and $190.00 levels.
If the ETHUSD pair holds above the $230.00 level, key resistance is found at the $255.00 and $285.00 level.
ETHUSD $230.00 downside level to watchEthereum is back under pressure on Friday, with the second largest cryptocurrency by market capitalization testing towards neckline support. The four-hour time frame highlights that bearish breakdown towards the $205.00 level is possible if price slips below the $230.00 level. Bulls ideally need to lift the ETHUSD pair above the $280.00 level to negate the bearish head and shoulders pattern.
The ETHUSD pair is intraday bearish while trading below the $230.00 level, key support is found at the $220.00 and $205.00 levels.
If the ETHUSD pair trades above the $230.00 level, key resistance is found at the $245.00 and $280.00 levels.
ETHUSD clear range break neededEthereum continues to stage a recovery in early Monday trade after the second largest cryptocurrency found solid technical support from the $230.00 level. The next strong directional move in the ETHUSD pair will likely come when a confirmed breakout occurs from the $230.00 to $285.00 price range. Overall, bulls need to post a fresh yearly trading high to negate a potential double-top pattern formation on the lower time frames.
The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $285.00 and $325.00 levels.
If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $205.00 levels.
ETHUSD upward bias intactEthereum retains its bullish short-term bias after the second largest cryptocurrency by market capitalization traded to a new 2019 trading high earlier this week. The $300.00 level may still come into focus this month, although the $325.00 resistance level is the likely target for ETHUSD bulls. A sustained loss of the $260.00 support level may provoke a further technical test of the $245.00 support level.
The ETHUSD pair is intraday bullish while trading above the $260.00 level, key resistance is found at the $300.00 and $325.00 levels.
If the ETHUSD pair trades below the $260.00 level, key support is found at the $245.00 and $220.00 levels.
ETHUSD inside neutral triangleEthereum has recovered higher in early Friday trade after finding strong technical support from the $220.00 level. The ETHUSD pair is currently trapped within a neutral triangle pattern on the four-hour time frame. A bullish breakout from the triangle pattern would take the ETHUSD towards the $330.00 level, while a bearish breakout may see a move towards the $180.00 support level.
The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $275.00 and $330.00 levels.
If the ETHUSD pair trades below the $245.00 level, key support is found at the $220.00 and $180.00 levels.
ETHUSD breakout loomsEthereum is preparing for its next strong direction move as the second largest cryptocurrency by market capitalization consolidates around the $245.00 level. The cryptocurrency may target the $330.00 level if can rally the ETHUSD pair above the resistance $280.00 level. Sellers could target the $190.00 support level if the ETHUSD pair falls below the current weekly trading low.
The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels.
If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $190.00 levels.
ETHUSD $245.00 pivotal supportEthereum remains well supported in early Friday trade, with the second largest cryptocurrency by market capitalization trading close to major intraday support. The daily time frame is showing that a large bullish inverted head and shoulders pattern is now present. If ETHUSD bulls can hold price above the $245.00 level the cryptocurrency could continue its recent breakout rally.
The ETHUSD pair is intraday bullish while trading above the $245.00 level, key resistance is found at the $280.00 and $330.00 levels.
If the ETHUSD pair trades below the $245.00 level, key support is found at the $230.00 and $210.00 levels.
ETHUSD Chart looking very bullishDaily Price chart of ETH-USD showing very bullish pattern. Above 192 $, ETH-USD will blast to kiss 242 $ within 34 days. Just an opinion. Let us watch.
A trading opportunity to buy in ETHUSDMidterm forecast:
While the price is above the support 162.650, beginning of uptrend is expected.
We make sure when the resistance at 264.800 breaks.
If the support at 162.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 44 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 148.700 on 04/26/2019, so more gains maximum to Major Resistance (264.800) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 74.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (187.50 to 162.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (187.50)
Ending of entry zone (162.65)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 264.800
TP2= @ 309.100
TP3= @ 348.800
TP4= @ 393.550
TP5= @ 475.300
TP6= @ 534.700
TP7= @ 630.500
TP8= @ 822.550
TP9= @ 970.450
TP10= @ 1229.700
TP11= @ 1415.950
TP12= Free
ETHUSD $230.00 soft targetEthereum has moved to a new 2019 trading high, with the second largest cryptocurrency by market capitalization receiving a boost from the recent breakout rally in Bitcoin. The first bullish target for the ETHUSD pair is the $230.00 level, with the $270.00 level extended weekly resistance. Sellers need to move price below the $185.00 level to shift the strong bullish sentiment towards the ETHUSD pair.
The ETHUSD pair is bullish while trading above the $185.00 level, key resistance is found at the $230.00 and $270.00 levels.
If the ETHUSD pair trades below the $185.00 level, key support is found at the $175.00 and $168.00 levels.
ETHUSD new high neededEthereum is attempting to push higher in early Wednesday trade as the second largest cryptocurrency by market capitalization holds above major weekly support. Buyers need to break above the current 2019 trading high in order to encourage fresh technical buying in the ETHUSD pair. The Ichimoku indicator is currently showing that the $160.00 and $148.00 levels are the key support levels to watch.
The ETHUSD pair is only bearish while trading below the $160.00 level, key support is found at the $148.00 and $125.00 levels.
If the ETHUSD pair trades above the $160.00 level, key resistance is found at the $185.00 and $210.00 levels.
ETH / USD Price Analysis: Bearish InertiaEthereum / USD Short-term price analysis
ETH has a neutral short-term trading bias, with the cryptocurrency falling back towards its 200-period moving average on the four-hour time frame.
The four-hour time frame continues to show a valid head and shoulders pattern, with bulls failing to negate the bearish pattern during the latest rally in the ETH / USD pair.
Technical indicators have turned bearish on the four-hour time frame and are currently generating sell signals.
Pattern Watch
Traders should note that a bullish inverted head and shoulders pattern will form on the four-hour time frame if the ETH / USD pair advances towards its current yearly trading high.
Relative Strength Index
The RSI indicator on the four-hour time frame has also turned bearish and shows scope for further downside.
MACD Indicator
The MACD indicator on the four-hour time frame has turned bearish, with the MACD signal line now issuing a sell signal.
Ethereum / USD Medium-term price analysis
ETH retains a bullish medium-term bias, with the ETH / USD pair still trading well above its key 200-day moving average.
The daily time frame is showing a small inverted head and shoulders pattern in play, while an even larger inverted head and shoulders pattern could take shape if the ETH / USD pair moves above the $200.00 level.
Technical indicators on the daily time frame currently have a slight bullish bias, although downside pressures are building.
ETH / USD Daily Chart by TradingView
Pattern Watch
Traders should note that critical weekly support for the ETH / USD pair is currently located at the $150.00 level.
Relative Strength Index
The RSI Indicator on the daily time frame remains bullish, although downside pressures are building.
MACD Indicator
The MACD indicator on the daily time frame is neutral, with the MACD histogram and the MACD signal line failing to issue clear trading signals.
Conclusion
ETH is coming under downside pressure in the near-term after bulls failed to rally the ETH / USD pair to a fresh 2019 trading high during last week rally.
Bulls must start to make new higher price highs and force the cryptocurrency above the $200.00 level or the bearish pattern on the four-hour time frame could soon be triggered into action.
Price Action Lesson 7: Conditions of a Perfect Shooting StarConditions of a Perfect Shooting Star:
. Body is short.
. The height of the candlestick (the difference between high and low price) is tall enough and it's more than the Daily ATR(264). The taller the Candlestick is, the stronger the Shooting Star .
. The upper shadow (also known as upper wick or tail is the distance between the high price and the close or open price, whichever is higher) should be very tall, over than 75 percent of the Daily ATR(264) is better.
. The lower shadow (also called bottom wick or tail is the distance between the low price and the close or open price, whichever is lower) is nonexistent or very short. It should be less than 25 percent of the Daily ATR(264).
. The Shooting Star with the bearish body is stronger than the one with the bullish body.
. The picture shows a perfect Shooting Star candlestick .
As seen, the height of the candlestick is tall, but the body is very short. Also, the upper shadow is very tall and the lower shadow is very short.
. The close price is lower than open price, therefore the body of this Shooting Star is bearish , and the strength is very high.
ETHUSD bearish below $158.00Ethereum is under downside pressure on Tuesday, with the second largest cryptocurrency by market capitalization trading towards the $150.00 level. The ETHUSD pair has a bearish intraday bias while trading below the $158.00 and could weaken below the important $145.00 level. The daily time frame is currently showing that critical weekly support for the ETHUSD pair is located at the $130.00 level.
The ETHUSD pair is bearish while trading below the $158.00 level, key support is found at the $145.00 and $130.00 levels.
If the ETHUSD pair trades above the $158.00 level, key resistance is found at the $170.00 and $185.00 levels.
ETH: 144 would make a bottom consistent with previous lowsAn idea based on previous thoughts. ETH made a low of 80.6 and then made a higher low 99.6. About 24% up. The next low was 122.5 which was about 23% up. Taking the theory that ETH is making successive higher low 20-25% above the previous low, this would make the next low in 147-153 range. However, 200 DMA is 144, which is not much below this range therefore we might see a wick to 144 before the next leg up. It would also make the retest of .618 fib level consistent with the last scenarios.
ETH / USD Price Analysis: Losing ChargeETH / USD Short-term price analysis
Ethereum has a bearish short-term trading bias, with the cryptocurrency now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that a bearish head and shoulders pattern has taken shape, with the ETH / USD pair now testing towards the neckline of the pattern.
Technical indicators are bearish on the four-hour time frame and continue to generate sell signals.
Pattern Watch
Traders should note that the downside target of the bearish head and shoulders pattern on the four-hour time frame extends towards the $125.00 level.
Relative Strength Index
The RSI indicator on the four-hour time frame has turned bearish, although it is attempting to correct from oversold territory.
MACD Indicator
The MACD indicator on the four-hour time frame has turned bearish and continues to issue a sell signal.
ETH / USD Medium-term price analysis
Ethereum retains a bullish medium-term trading bias, with the ETH / USD pair still trading above its trend defining 200-day moving average.
The daily time frame is still showing a valid inverted head and shoulders pattern, although the ETH / USD pair has now fallen below the neckline of the bullish pattern.
Technical indicators on the daily time frame have turned bearish and have scope to correct even lower.
ETH / USD Daily Chart by TradingView
Pattern Watch
Traders should note that the inverted head and shoulders pattern on the daily time frame has yet to reach its overall upside target of $230.00.
Relative Strength Indicator
The RSI Indicator on the daily time frame has turned bearish and shows scope for further downside.
MACD Indicator
The MACD indicator on the daily time frame is bearish, with both the MACD histogram and the MACD signal line issuing sell signals.
Conclusion
Ethereum is staging a strong short-term technical correction with the bearish head and shoulders pattern on the four-hour time frame suggesting that the ETH / USD could trade even lower.
Ethereum still has the potential to trade higher over the medium-term if the inverted head and shoulders pattern on the daily time frame remains valid.
