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Ethusdanalysis

The ETHUSDT chart is showing some positive developments.Firstly, what I'm saying is not to be considered as investment advice; it's just a cautionary note. If you take a slightly broader look at the Ethereum chart since the beginning of October, you'll notice a nice and well-behaved channel that has formed. ETH is currently at the bottom of this channel and has also formed a very nice "falling wedge" pattern. If you're not aware, falling wedge patterns are often indicative of an upcoming upward movement. Most likely, the price consolidation here will lead to a move towards the 2900 region, drawing strength from the bottom of our ascending trend channel. However, before this happens, a fake breakdown of the lower zone, i.e., a spike below the channel, is also possible. Remember, what I'm describing is only meant to provide guidance, not the actual path. Good day and profitable trading.
Long
by TonyStellar
3
ETH Faces Downside Risks; 24H, 3D & 7D Horizons Look ☁️ The latest upgrade of the Ethereum blockchain, Dencun, went live on Wednesday. It did, however, face some technical glitches which were eventually fixed. The price of Ether dropped 0.3 percent over the past 24 hours to 2,450 dollars. Mixed trading conditions lie ahead for the global crypto market in the next 24 hours. Bearish clouds linger over altcoins such as Ether, Cardano and Avalanche, as forecasted by ATTMO. Over a one-week horizon, these cloudy skies will also prevail over Bitcoin and XRP, signaling downside risks. This bearish trading trend will extend over Ether, Litecoin, Cardano and Avalanche. Follow us for more crypto weather reports!
BITSTAMP:ETHUSDShort
by ATTMO
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 Short-Term ☁️, 3D & 7D Forecast Bullish ☀️ Bullish skies ☀️ grace the global crypto market on the 3 and 7-day horizon! Upside potential beams for Bitcoin and altcoins as the SEC approves the first spot Bitcoin ETFs. A very bullish forecast for Ether, however, a short-term market correction is on the horizon in the next 24 hours. 🚀 ATTMO predicts a sunny week overall, but watch out for bearish clouds ☁️ looming over Polkadot, signaling potential downside risks. Stay weather-wise in the crypto world and follow us for more crypto weather reports!
BITSTAMP:ETHUSD
by ATTMO
Ethereum's Course Amidst Bitcoin ETF Approval 🚀🌐The primary beneficiary of the Bitcoin ETF approval seems to be Ethereum and altcoins. With talks of a potential Ethereum ETF approval, the market is confident that if a Bitcoin ETF is approved, an Ethereum ETF might follow suit. On the daily chart, it's evident that we are still within an overarching Wave 3, both on a higher and lower degree. I anticipate a support range between $2,900 and $3,680, followed by the formation of Wave 4 and the subsequent upward movement in Wave 5 for the overarching Wave 3. Ethereum seems to have a promising journey ahead. Looking at the daily support, I expect a correction within a lower degree Wave 3, forming a Wave 4 between 38.2% and 61.8%. I believe this level aligns with our support zone. Upwards, I see a target of at least $3,010. The exact trajectory and duration of this trade will unfold with time. 📈✨
CRYPTO:ETHUSDLong
by stromm_by_wmc
1
ETH Bullish ☀️ 24H & 1W Horizon; XRP Bearish ☁️? Sell Now? Ethereum, Litecoin, and Cardano are likely to profit from a bullish sun in the next 24 hours. ☀️ On the other hand, Ripple’s XRP and Avalanche are also likely to face downward pressure ☁️ Over a one-week horizon, bullish sun will shine over a larger part of the crypto universe, however, XRP, Avalanche, and Polkadot will still be facing bearish clouds, signaling further downside risk. ☁️ Follow us for more crypto weather reports!
BITSTAMP:ETHUSD
by ATTMO
ETHUSDT.1DBased on the provided data, the ETH/USDT pair is currently trading at $2439.44. The Relative Strength Index (RSI) for 4 hours, 1 day, and 7 days are 73.68, 63.72, and 71.82 respectively. These values show that the pair is currently overbought, which could indicate a potential price downturn. The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day, and 7 days are 39.96, 31.61, and 156.20 respectively. The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. The MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. In this case, the positive MACD indicates that the 12-period EMA is above the 26-period EMA, which suggests bullish momentum. The Bollinger Bands (BB) for 4 hours, 1 day, and 7 days are 2459.0, 2460.0, and 2512.0 respectively. The price is currently below the upper BB which could indicate a potential price downturn. The support levels for 4 hours, 1 day, and 7 days are 2288.0, 2290.0, and 1945.0 (1st level support) respectively, while the resistance levels are 2500.0, 2600.0, and 2650.0 (1st level resistance) respectively. The price is currently closer to the resistance level than the support level, indicating that the pair is in an uptrend. In conclusion, the indicators suggest the ETH/USDT pair is currently in an uptrend but is overbought, which could potentially lead to a price correction. However, as with all technical analysis, it's important to consider other market factors and your personal risk tolerance before making investment decisions.
by MarsSignals
Unleash the power of Ethereum in 2024COINBASE:ETHUSD Ethereum stands tall as a beacon of innovation, and its future in 2024 looks brighter than ever! With a strong foundation built on the groundbreaking achievements of 2022 and the ever-growing support of the crypto community, Ethereum is poised to make a remarkable comeback in the coming year. One of the key drivers of Ethereum's bullish thesis for 2024 is the upcoming network upgrade, EIP-4844, which promises to bring significant improvements in transaction speeds and costs. This upgrade is expected to take place during the first half of 2024, and it could be the catalyst that propels Ethereum to new heights. Moreover, the recent shift in market sentiment towards Ethereum, as evidenced by the growing number of institutional investors and the potential for a spot Ethereum ETF, further strengthens its bullish case. As more investors recognize the unique utility of the Ethereum blockchain for dApp developers, NFTs, and DeFi applications, the demand for ETH is likely to surge. In addition, the deflationary nature of Ethereum, which was first observed in 2023, is expected to continue in 2024. This deflationary pressure, coupled with the growing adoption of DeFi and NFTs on the Ethereum network, will likely result in increased utility and demand for ETH. Furthermore, the technical analysis of Ethereum's price action in 2024 reveals a bullish pattern, with the formation of an ascending triangle and a triple top. These patterns suggest that a breakout to the upside is imminent, and the price of ETH could reach new all-time highs in the coming year. #ETH #BTC
COINBASE:ETHUSDLong
by EgideSimba