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ETHUSD trade ideas

ETH $3500 or moon soon?Well she tried to break out yesterday but was rejected, and ultimately pulled back to support. that support is short-medium length running, as it has provided support here 4 times in the past month and now we are hoping for a 5th time. But even if it breaks down here, we would be likely to see it go back down to the bottom of this ascending channel, at around $3500 depending on when we arrive there, its also the 200 (4hr candle) moving average. There is a strong likelihood that if we test this area we will hold support with double support, however in the unlikely event that support also broke down, we could be looking at heading back down to red line, which also is not unhealthy, when an asset breaks out, to come back and test its prior resistance as support, ETH never did do that. Here is the 1 day candle charts, just to show ETH was in a year decline when it broke out into this structure we are examining closer in this write up. Notice in the chart in this write up, the red line at the bottom, it is the dominate descending red line in that one day candle chart above. ------------------------ Something else though both ETH and BTC their order books sentiment is not so strong right now. I use CMF and i like to look at orderbooks from 10% depth of market to 100% depth of market and I watch the trendline of the asks, because, the more asks at 10-100% depth of market, thats positive sentiment, thats a lot of traders that have set limit orders expecting the price to go up. Where as when we see a rise in bids in the 10%-100% depth of market range, it means more traders are setting up to buy an anticipated coming dip, so they expect the price to drop. For ETH over the last month as the price has jumped, the asks above 10% have continued to decline and now recently the bids above 10% have started to run up. But also everything goes in waves, it would make sense that soon we could start another wave up and then its just a question of if it will be a bigger or smaller wave, indicating a growing or shrinking overarching "Greed". ------------------------ So the alternative to it breaking down here, which the recent market makes it seem more likely, is that we go back and try to break that resistance again and this time, succeed and make a nice strong run on ETH, but we have to be prepared for either. My gut says based on the recent strength of the market, we will start to see order books push a new cycle of increased trader confidence and see a break out here instead of a break down but the data above suggests a very real potential for a a pullback here. Overall, this still appears really early in ETH's break out from its year decline, I think we can expect much higher highs in the future with the only question being, how far in the future. As always be vigilant and adaptive, and DYOR!
COINBASE:ETHUSD
by EncryptShawn
Analyzing XRP: Will Technical Analysis and Whale Activity Lead tThis article analyzes the current state of the Ethereum market, focusing on its technical indicators and recent market trends. It discusses the potential for further price increases, highlighting the role of institutional investors and the overall market sentiment. Key Points: • Technical Analysis: o Ethereum's price has formed a triple-top pattern, historically associated with potential downside. o However, it has also broken above key moving averages and a rising trendline, signaling bullish momentum. o The MACD indicator suggests a potential upward trend continuation. • Institutional Demand: o Increased institutional investment in Ethereum, particularly through ETFs, has contributed to its price rise. o Grayscale Ethereum Trust (ETHE) has seen significant inflows, indicating growing institutional interest. • Altcoin Season and Market Sentiment: o The current altcoin season, characterized by strong performance of altcoins relative to Bitcoin, is favorable for Ethereum. o The "extreme greed" level on the crypto fear and greed index suggests a risk-on sentiment, which often benefits Ethereum. • Strong Fundamentals: o Ethereum's leading position in DeFi, with a large total value locked and active DEX network, provides a solid foundation for its price. o The dominance of stablecoins on the Ethereum network further strengthens its position. o Conclusion: While the triple-top pattern raises some concerns, the bullish technical indicators, strong institutional demand, and positive market sentiment suggest that Ethereum has the potential for further price increases. However, investors should remain cautious and monitor the market closely for any signs of reversal. A drop below the $3,700 support level could invalidate the bullish outlook.
COINBASE:ETHUSDLong
by bryandowningqln
Ethereum Ethereum (ETH) trades above $4,000 for the first since March on Friday after seeing record ETF inflows and higher preference from investors over Bitcoin.Since the US elections, Ethereum has outshined Bitcoin, with its growth accelerating after SEC Chair Gary Gensler announced he would retire on January 20, Bybit noted in a December 5 "Volatility Review" report. The report noted that traders are beginning to reallocate their preferences to ETH, as revealed by the notable ETH/BTC ratio shiftThe ratio has sprung from a low of 0.31 on November 19 to over 0.4 on Friday. The outperformance of ETH against Bitcoin has also seen a drop in Bitcoin dominance, leading to speculations of the beginning of an altcoin season
BITSTAMP:ETHUSDShort
by KingForex078
Is Ethereum Poised to Reach $5,000? Analyzing Its Fractal JourneEthereum's Fractal Journey Towards $5,000: A Deep Dive The Fractal Nature of Crypto Markets The cryptocurrency market, much like any other financial market, is subject to cyclical patterns. These patterns, often referred to as fractals, are repeating structures that occur at different scales. Identifying and understanding these fractal patterns can provide valuable insights into future price movements. Ethereum's Fractal Alignment with Bitcoin and XRP Recently, Ethereum (ETH) has exhibited a remarkable price surge, aligning with similar fractal patterns observed in Bitcoin (BTC) and XRP (XRP). Bitcoin's Influence on Ethereum Bitcoin, often considered the "digital gold," has historically been a significant driver of the broader cryptocurrency market. As Bitcoin ascends to new heights, it often pulls other cryptocurrencies, including Ethereum, along with it. • Correlation and Co-movement: Bitcoin and Ethereum have shown a strong correlation in recent years, especially during bull markets. As Bitcoin's price increases, it can lead to increased investor interest in Ethereum and other altcoins, driving their prices higher. • Market Sentiment and FOMO: Bitcoin's bullish momentum can create a positive market sentiment, attracting new investors to the cryptocurrency space. This influx of new capital can fuel demand for Ethereum and other altcoins, pushing their prices higher. • Ethereum's Fractal Alignment with XRP A fascinating development in the cryptocurrency market is the emerging fractal pattern between Ethereum and XRP. Both cryptocurrencies have recently broken out of similar symmetrical triangle patterns. • Symmetrical Triangle Pattern: This technical analysis pattern often indicates a period of consolidation before a significant price movement. Once the price breaks out of the triangle, it can lead to a substantial price increase or decrease. • XRP's 390% Rally: XRP experienced a remarkable 390% rally after breaking out of a symmetrical triangle pattern. This historical precedent suggests that Ethereum could follow a similar trajectory, potentially leading to a significant price surge. • BlackRock's ETH ETF: A Catalyst for Growth BlackRock, one of the world's largest asset management firms, recently filed for an Ethereum ETF. This move has the potential to significantly impact the price of Ethereum. • Institutional Adoption: BlackRock's entry into the Ethereum market could attract more institutional investors to the cryptocurrency. This increased institutional interest can lead to higher demand for Ethereum, driving its price higher. • Increased Liquidity: BlackRock's Ethereum ETF could increase the liquidity of Ethereum, making it easier for investors to buy and sell the cryptocurrency. Increased liquidity can help to stabilize the price of Ethereum and reduce volatility. Ethereum's Potential Price Target: $5,000 Based on the aforementioned factors, including the fractal patterns, Bitcoin's influence, XRP's recent rally, and BlackRock's ETH ETF, it's not unreasonable to speculate that Ethereum could reach a price target of $5,000 in the near future. However, it's important to note that the cryptocurrency market is highly volatile, and price predictions should be taken with a grain of salt. A variety of factors, including global economic conditions, regulatory developments, and technological advancements, can impact the price of Ethereum. Technical Analysis: A Deeper Dive To gain a more comprehensive understanding of Ethereum's potential price movement, it's essential to delve deeper into technical analysis. • Relative Strength Index (RSI): The RSI is a momentum oscillator that measures the speed and change of price movements. A high RSI reading (above 70) indicates that the asset is overbought, while a low reading (below 30) indicates that it is oversold. • Moving Averages: Moving averages are trend-following indicators that smooth out price data over a specific period. A popular moving average combination is the 50-day and 200-day moving average. A bullish crossover occurs when the 50-day moving average crosses above the 200-day moving average, indicating a potential uptrend. • Support and Resistance Levels: Support and resistance levels are price levels where the price of an asset has historically struggled to break through. These levels can provide valuable insights into potential price targets and reversal points. • By combining technical analysis with fundamental analysis, investors can make more informed decisions about investing in Ethereum. Conclusion Ethereum's recent price surge, coupled with the emerging fractal patterns and the influence of Bitcoin and XRP, suggests that the cryptocurrency has the potential to reach significant price targets. However, it's important to approach investing in cryptocurrencies with caution and conduct thorough research. As the cryptocurrency market continues to evolve, it's essential to stay informed about the latest trends and developments.
COINBASE:ETHUSDLong
by bryandowningqln
ETHEREUM TO $4,640!I posted this trade before entry in the Covesta community but forgot to post it here so here is a mid trade update lol! Generally speaking i think ETH was pretty shaky prior to the BTC rally starting in late November which resulted in all ALT's rallying so i think some of the bearish / sideways momentum in ETH has been covered due to the general successful outlook on crypto. I would like to see ETH push higher and i would anticipate that happening based on current market conditions coupled with the data the charts are providing. As you can see i entered this trade at $3,691 after a pull back on the fib confirming the 61.8% price rang, as well as a rejection from the 9/21 SMA's on the 2hr. There is also an area of support at around $3,750 which helped support ETH to push higher and finally ETH has been in an upward cycle clearly shown by SMA's on all higher time frames. After bouncing from this level there was some slight consolidation around the $3,870 price point likely due to it being a key level so a lot of position's would be liquidated here causing relief & for the markets to lose some momentum / pull back. ETH has since broke through that key level as well as reaching the EUROTLX:4K mark. I have now moved my stop to $3,880 to lock in some % as well as remove risk on this trade. My first target is $4,245 with a secondary, longer term target of $4,630. These targets are based on key levels and fib projections which are based on historical data.
COINBASE:ETHUSDLong
by h77nry
Ethereum - Rising Star Candle Shines Bright! Ethereum has printed a Rising Star candle on the daily chart, signaling a potential recharge for the next bull run! 📈 ✅ Healthy Correction: ETH retraced to $3,000 over the past 2 days, cooling off the rally and resetting momentum. ✅ Bullish Signal: The Rising Star candle confirms renewed buying interest and bullish sentiment. 🔑 Key Level to Watch: If ETH breaks $4,200, the Cup & Handle pattern remains intact on both the daily and weekly timeframes. 🌟 Targets: 146% Gain: Potential move to $7,300 🔥 300% Gain: Long-term goal around $12,600 in early 2025 🚀 ETH is positioning itself as a market leader. Will this candle mark the start of the next big move? 💡 ⚠️ Trade wisely and always consider the risks! Let me know your thoughts below! 👇💬
BITSTAMP:ETHUSD
by nautyblu
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