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Ethereumdollar

Ethereum getting ready to test resistance?Ethereum spiked all the way to $220, just shy of the supply zone around $222 before coming all the way back to the middle of the range. The EMAs have come together getting very tight after fallingg hard on that last down move. A break above in either direction will give us a better idea of where we head next as we are currently stuck in the POC. A possible add area for a long would be in the demand zone below possibly all the way down to $192. Thanks guys
BITSTAMP:ETHUSD
by CM_Trades
Ethereum was pulled in after it looked ready for a dive! Ethereum was looking very weak and about to fall off a cliff before Bitcoin & the Bitfinex/Tether FUD hit the wires and cause a huge spike market wide. This in turn moved Ether off the lows and spike into highs of around $220, which was not held and moved back under resistance at the moment where it is stuck. Whether we get another pump from Bitcoin 9.04% or start to return back to equilibrium with other exchanges is yet to be seen. Thanks guys
BITSTAMP:ETHUSD
by CM_Trades
Ethereum finally gave way to sub-200! Ethereum was trying very hard to stay afloat above $200 but it finally gave way and dropped straight into the next demand zone around $187.50. The FIB level is acting as support at the moment but we need to move away from this area or else we could see $175. EMAs are still moving lower trying to catch up to price so some consolidating might occur here but we can't rule out a bounce back up to the fast-moving EMA before a continuation lower. The only thing that can give bulls some hope is a strong bounce from here back above the $208 area with volume. Thanks guys
BITFINEX:ETHUSD
by CM_Trades
Ethereum continues printing grey candles! Ethereum continues to trend sideways in this range and as we can see on the chart using SCMR, indecision is the story being told by looking at the candle for the past few weeks. After breaking above the triangle and testing resistance we have returned right back into the range and yet again await some type of volatility to have a sense of direction. Until we get a stronger move, sitting on your hands is probably the best play here. Thanks guys
BITFINEX:ETHUSD
by CM_Trades
Ethereum looking worse as the days go by! Ethereum finally looked like it might be out of the doghouse and could possibly test supply above but yesterdays drop has put everything back into question. If we cannot get above the EMAs & trendline here and we drop back into the support area below could further put the nail in the coffin for Ether as it will most likely head back to $195. We have seen in the past that ETH PA does sometimes lead the market so a breakdown here could spur a break down in Bitcoin and the rest of the market. Thanks guys
BITFINEX:ETHUSD
by CM_Trades
Ethereum continues to show weakness!Ethereum bounced from the demand zone twice forming a tweezer bottom BUT was unable to close above the EMAs, which does not bode well for bulls. The support level near the channel bottom and FIB seems to be holding so far but signs of resistance are creeping in. MACD signal line is trying to crossover bullish and histo has just now turned gree, however, RSI broke down from support and has rejected resistance twice and seems to be heading back down to lower support. The next few hours will show us where Bitcoin wants to go, which will dictate the rest of the market's movement. Thanks guys
BITFINEX:ETHUSDShort
by CM_Trades
Ethereum needs to hold this support zone or we see $195! Ethereum has broken below the channel once more and has found support near the 38.2%FIB level. The demand zone we are currently at is very strong and VERY important to keep price away from the $180-$190 levels. The EMAs have crossed over bearish, which does signal some bearish price action might still be in store unless we break higher soon. MACD continues to plummet lower while the histo has slightly turned up BUT the RSI broke through support and looks like after bouncing, we could continue our move lower here. As always, Bitcoin price is what moves the rest of the market so a break lower will cause big drops in Ether and altcoins alike. We could get another move higher into the EMAs before continuing lower and breaking support BUT this is a strong POC level. Once more, a more conservative short scalp would be to wait for a break of this support level and take a short on the retest. Thanks guys
BITFINEX:ETHUSDShort
by CM_Trades
Ethereum bearish Kumo twist incoming! Ethereum has broken down from the Kijun and entered the cloud after breaking the triangle. The lagging span broke below price but seems to want to cross back above as we bounce back, however, Kijun is now proving to be strong resistance and the cloud seems to be gearing up to twist bearishly causing a test of the cloud bottom around $211. A break above both Tenkan Sen and Kijun would be a bullish sign causing lagging span to cross above price and stalling the kumo twist for now! Possible setup for a short would be to enter a trade on retest and fail of Kijun with stop placed above Tenkan Sen and profit the bottom of the cloud BUT always keep an eye on BTC, which could cause one to pull out of the trade if BTC gains strength. Thanks guys
BITFINEX:ETHUSDShort
by CM_Trades
ETH - About to rollover? As mentioned yesterday, Ethereum seems to be forming a H&S pattern as it continues to look very weak as the days go by. It is currently finding resistance at the 50%FIB level but support is not far away as the EMA is providing help for now. MACD continues its downwards momentum while RSI heads back down towards the triangle support, which must hold or we could be in store for much lower prices! It all comes down to the demand zone holding as it has done in the past in order for bulls to remain hopeful of a move back to $250-$260. A break and close below would turn this area into massive resistance and could possibly lead to the retest of the $180-$190 handles. Thanks guys!
BITFINEX:ETHUSD
by CM_Trades
ETH - Looking TOP heavy here! Ethereum has formed another channel/bearflag after breaking below the previous channel and is currently heading towards the lower trendline. One could also argue, but we never recommend drawing out patterns before they are completed, that we are currently forming a H&S pattern on this trend upwards, which if formed could cause a drop back down to the lower demand zone around $170. Obviously, this means nothing until the formation is complete and until then just something to keep in mind. MACD has turned bearish on both metrics while RSI failed to reach previous high on the latest move up further indicating we may have fizzled out. If we were to break down, a possible trade would be a break of this demand zone and taking a short position on the retest and failure of this S/R flip zone. Targets could be the 23.6%FIB level as well as the lower demand zones if you feel that ETH is very weak once we break! However, we are currently finding support at the 50%FIB level and could spring up from here if we can hold! Thanks guys!
BITFINEX:ETHUSD
by CM_Trades
2
ETH - Cloud lending a hand! Ethereum was able to break above the cloud at the point of least resistance, which was the kumo twist area but found resistance at the trendline. We found support along the way on the top of the cloud as well as on the Kijun and now on the Tenkan Sen. We can also see that the cloud has become very thick near this POC and any break back below would cause tremendous resistance for price BUT we currently seem to be holding above these level and with the news regarding the ICO funds having dumped most of their ETH hoards surfacing this morning could cause some bullish pressure. We must keep an eye on these levels and where Bitcoin trends over the next few hours. Thanks guys!
BITFINEX:ETHUSD
by CM_Trades
ETH - Could be in store for lower prices! ETH broke above the supply zone yesterday but couldn't quite regain the channel and formed a tweezer top before dropping back down to test the breakout zone. We have currently bounced but have found resistance at the 50%FIB level and price action isn't inspiring much confidence. RSI seems to have made a lower push up breaking through resistance and MACD histo seems to be losing steam, while signal line tries to push above the median. I would like to see Ethereum retest the demand zone and hold, possibly raiding some stops below before resuming its move higher. A break below this zone would become very strong resistance and could lead us back down to $195 or lower. Thanks guys!
BITFINEX:ETHUSD
by CM_Trades
2
ETH - Ready for another test of $250?Ethereum is currently stuck in this congestion zone and is looking primed to breakout from here and retest the resistance above. Both MACD and RSI are turning bullish, as RSI broke resistance and MACD signal line has crossed above bullish. A possible trade could be going long now or waiting for a break of this zone and longing a retest of the zone with target #1 the bottom of the channel and target #2 the bottom of the supply zone around $261. Thanks guys!
BITFINEX:ETHUSDLong
by CM_Trades
7