Ethereum possible down to 2060 - 1951 - 1700 - detailed analysis
Ethereum possible down to 2060 - 1951 - 1700 - detailed analysis
Dear friends,
Here we are looking at Ethereum on the 1 hour chart moving in a ascending triangle with decreasing volume.
The upper boundery is an ultra strong resistance level that first needs to be broken before thinking about going LONG on Ethereum.
In the chart, we also see a large bearish rsisng wedge with 1700 as target. A small bearish wedge with 2050 as target and a Diamond pattern with 1951 as target.
Then there is also a reversed head shoulder formation froming but it will only be validated when the 2280 level is broken on high volume. Going long then on a retest of the Neckline.
The volume is declining while de price is rising. That is a bearish sign but it can also be the weekend with high manipulation due the lower volume.
If we break through 2280 this bearish scenario will disappear. Important a stoploss need to be placed above 2300 USD.
Dear friends, please share your thoughts and idea's below. What do you think and why do you think it with or without a chart.
I wish you all good luck with trading!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Dear friends,
Here we are looking at Ethereum on the 1 hour chart moving in a ascending triangle with decreasing volume.
The upper boundery is an ultra strong resistance level that first needs to be broken before thinking about going LONG on Ethereum.
In the chart, we also see a large bearish rsisng wedge with 1700 as target. A small bearish wedge with 2050 as target and a Diamond pattern with 1951 as target.
Then there is also a reversed head shoulder formation froming but it will only be validated when the 2280 level is broken on high volume. Going long then on a retest of the Neckline.
The volume is declining while de price is rising. That is a bearish sign but it can also be the weekend with high manipulation due the lower volume.
If we break through 2280 this bearish scenario will disappear. Important a stoploss need to be placed above 2300 USD.
Dear friends, please share your thoughts and idea's below. What do you think and why do you think it with or without a chart.
I wish you all good luck with trading!
Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Dear Friends,
We have now broken through the neckline upwards at 2280 as I wrote in the analysis. This is immediately the activation of the inverse HS formation.
We are still getting resistance from the rising wedge trend line. The price can now bounce off this trend line and immediately retest the neckline.
Excellent news in my opinion as there is more profit to be made from a bullish than a bearish scenario.
To go long you can do so immediately but better to wait for the retest of the neckline and buy ETH cheaper as well.
Good luck with trading dear friends