ETH is dropping to 115.00 TONIGHT then back to around 135.00/140.00 by tomorrow.
Whilst I am still, for the long term, bullish, I think we've seen a new channel emerging on the ETHGBP chart. Any thoughts?
This rally looks to be unstoppable. The extended fifth has developed a further nested wave one, which is currently retracing. The last peak resulted in a further top-side break of the acceleration channel and there has been no motive-wave re-test of the under-side of the acceleration channel yet. This pair is currently making a parabolic advance. Very long indeed!
I know I'm sticking my head above the parapet slightly by posting an ETHGBP chart but wanted to share my observations with you. The price has just broken through the resistance line and perhaps out of the wedge that was due to come to an end in the next hour or so. Could this be an indication of an increase in price? Maybe even the start of the inverted upper...
Hit major support at (230.50) Will buy and hold and hope to see bulls take the price to (606) which was a major resistance back at 06 May 2018
Technicals Low volume index supports bullish trend analysis. price action on bigger frames support current trend. Fundamental: Pair's total market cap is under 1 million and is just a matter of time before it increases,
Ether looks to be going to test the current £248 ceiling for a 3rd time. I think it goes and we proceed upwards.
The bottom posted at about £100 seems to be holding on quite firmly and I think we may see a break for the upside. two levels I'm watching for are £228 and £281 for a potential pullback, but I think the trend should be up longterm. If we do see a decline now, I think we chase the £133 handle and then begin a bullish run.
Ethereum looks as though it may have found a bottom, and if that is the case, I foresee us climbing over the £600 mark. Ive included a rough prediction for how I think we could get there but it is still very early to confirm the 3rd wave move and everything after that, however, it is a reasonable scenario nonetheless. Ive put up an alternative shorterm play below...
A case for ethereum trading below £100 per coin looks very possible. We are seeing plenty of volume coming in at the bottom of every decline showing possible buy-side position building, but I doubt we have found a bottom yet. The £50-100 range looks like a good candidate for a bottom.
Looks like Ether hit a wall and buyers and sellers are not yet decided on where to take this.
ETH has held support at previous spike lows - now showing signs of a breakout by making a new higher high and a break out at trend line should push back to 300£ a coin! Good luck!
I think we have officially bottomed out. We saw substantial volume come in at the 61.8 retracement level and I think that that marked a 1st and 2nd wave completion. If so, I expect longterm bullish sentiment taking us above the £600 mark.
Ethereum is really getting battered. 50% retracement level is struggling to hold the market up, will £133 offer us more support?
Im finding it hard to find a case for more bullish sentiment, initially I though we would go up, but now I'm not so sure. One the bring side, if we do consolidate lower there will be a great buy opportunity building.
ETH looks like it isn't quite done with the upside even though there is a wavecount that indicates that it may have topped out. I personally think we see some more upside but lets let the market lead. I put up one 2 trades to consider. Not very attractive risk reward, but trades nonetheless.