On February 2nd, Ethereum finally made a new all-time high. Let's find out if the price will skyrocket or pull back!
Volume and Volatility
In recent newsletters, we have showcased the importance of volume. If a breakout is backed by substantial volume, then it will probably succeed and make a big move; if not, then there is a bigger chance that it will flop....
After the glorious rally from 8 USD up to 420 USD within less than six months Ethereum has been in a consolidation over the last four months.
It looks as though this consolidation is taking the shape of a bullish ascending triangle meaning a breakout above 400 - 420 USD will likely start the next leg up.
If you take the height of the triangle and add it to the...
Ethereum hit the half off the ATH price of $400 getting us as low $200. Buyers snapped up the cheap Ether and sellers appear to be exhausted since a short term fib 61.8% line was pierced to the upside. I expect a series higher highs and higher lows to start to form.
Longer term I would expect targets of at least $500 with FOMO targets getting us as high as $900-$1000.
Is ETH about to go sideways? If so, for how long until it returns to it's bullish uptrend?
On the plus side, the support line appears to be growing slowly, which I will be using as buy signals as long as this chart remains accurate.
Fib profit resistance hit, btc seems to pull eth and is groing now. One question remains though, the ratio, on which I have been positioned long for a while, and plan to let it grow further, if it will of course.
Cheers, trade safe, and stay happy :)
Ether has pulled back heavily along with COINBASE:BTCUSD and other Crypto currencies.
So far sellers have barely pulled us down to the 160s area where there is prior market structure. Lots of buyers and sellers in this price area which should lead to price stability / support here. In addition this is a 50% retrace on a highs-to-highs basis which has traded...
The strong incoming demand observed yesterday on the market both for bitcoin and ethereum, as well as the upcoming events, need I go further ? ... Yes, last but not least every possessor might strongly hold their full-of-potential investment thus reducing the supply.
Cheers all :D
With the recent domain expension and future plans, this looks great. The Breakout appears legit, that I could trade without a stop this time ^^
I wish you a good trading, stay safe, stay focused, and don't listen to others, especially me, don't listen to me ^^
Cheers ;)
