ETH Technical Analysis

[CryptoReggae]

According to my technical analysis we will see a recovery in a short term. Up to 3%.

publish a chart, otherwise what we talk about

[CryptoReggae]

ETH Update

Premise
As highlighted and reiterated in the previous posts, ETH carried out a bearish movement anticipating BTC.
My fears for a possible break of the $130.7 support before, and $129.73 later, were well founded, this triggered that expected bearish movement.
Everything comes out and arises from the breakdown of the SMA 100 on 27 February, and as soon as the fundamental analysis assumptions (fork occurred = finished hype) have ceased, the movement has continued on its way without impediment.

Current situation
At the moment ETH has found support over the SMA 200, we important moving average that has slowed down and stopped the fall.
The 4H RSI is in oversold territory, even if in recovery and not at very low values; while the RSI on the daily indicates the bears still have a large margin of operation. All this could suggest that the downward pressure is not yet over, and that a slight lateralization would bring additional strength to bears.
For people like me it is SHORT there is no urgent need to close, and even a slight recovery could be physiological of the moment. The important thing is to protect yourself with a STOP GAIN to protect the capital (with positive closing) and wait for the situation to evolve in the next few hours.

Upcoming important supports:
- $ 124.95 SMA 200
- the entire area, which ranges from $ 123.94 to $ 111.33, is a support area
- $ 111.90 and then again $ 105.81 are the last major resistances of the whole area affected by the analysis, before a ruinous fall.

Important resistors:
- $ 129.73 weak
- $ 130.67 strong resistance with hypothetical STOP GAIN for a short (increased to protect against spikes)

Keep my Short open, move lower down my STOP GAIN to protect the gain obtained and I am waiting for further confirmation or denial from the next few hours.

[CryptoReggae]

Bitcoin closed the daily slightly above the support at $ 3693, a slightly positive sign in the short term, and consequently also eth could benefit you.

For BTC the monthly support remains vital to avoid further losses. $3693 In the short-term  is a fundamental support, look at him carefully.

[cuo]

ETH Update

Ethereum, after the HardFork occurred regularly a few hours ago, is under an interesting resistance.
The SMA100 has been repeatedly, together with the SMA 50, a directional catalyst.

It is possible to notice how from 10 January 2019 the exchange under the SMA50 first, and the SMA100 shortly thereafter, have negatively affected the trend;
diametrically opposed, from 8 February their overcoming (supports) have generated trust and bearish push up to today's situation.

The term dell'Hype generated dall'HardFork and the technical situation make imagine a continuation of the negative trend, which can be interrupted only by overcoming the two current resistances on moving averages SMA 50 and SMA 100.
https://www.tradingview.com/x/MgFqnkb6/


It is possible to notice how the first spike downwards occurred exactly at the break of the SMA 100 support, immediately recovered but which triggered the bearish movement completed immediately after the execution of the Hard Fork.
https://www.tradingview.com/x/fh624gKm/


Without the movements analyzed, and without an important upward movement of BTC, the short- to medium-term trend of ETH is Bearish.

technically we can observe the movement of cryptocurrencies with various indicators, but at present the regulation severely limits the movement of cryptocurrencies because of the very large trading volume.

[Whosdaddy]

Sometimes as a trader, I feel  that I still don’t understand the logic behind the upward and downward trend of some of this crypto currencies even with the assistance of technical and fundamental analysis, though using indicators, I didn’t get any hope that ethereum will rise high anytime soon but base on the upgrade and speculation.

I had all hopes in ethereum expecting it to at least start appreciate more than the initial value it was after the upgrade but the way it is now, it seems the price really got wore that it was before the upgrade done recently. We still hope to see what the week has in store for us.

[CryptoReggae]

💊 ETH Update

The current analysis does NOT bring substantial changes compared to the previous analysis. After the breakdown of the SMA 100 the trend has developed a negative trend, and this remains until we have clear signs, currently totally absent.

After testing the SMA 200 and the $123.94 weekly support, there was a physiological technical correction. Even a possible correction up to the monthly support $130.67 should not worry bears; instead, its eventual breakdown would change the scenarios in progress.

The SMA 200 $125 supports (last touched support) and the weekly closing at $123.94 remain at the bottom.


Upcoming important supports:
- $125.23 SMA 200
- the entire area, which ranges from $123.94 to $111.33, is a support area
- $111.90 and then again $ 105.81 are the last major resistances of the whole area affected by the analysis, before a ruinous fall.

Important resistors:
- $ 129.73 weak
- $ 130.67 strong resistance with hypothetical STOP GAIN for a short (increased to protect against spikes)


I keep my Short open and continue with my bearish idea.

[chichidori]

Sometimes as a trader, I feel  that I still don’t understand the logic behind the upward and downward trend of some of this crypto currencies even with the assistance of technical and fundamental analysis, though using indicators, I didn’t get any hope that ethereum will rise high anytime soon but base on the upgrade and speculation.

I had all hopes in ethereum expecting it to at least start appreciate more than the initial value it was after the upgrade but the way it is now, it seems the price really got wore that it was before the upgrade done recently. We still hope to see what the week has in store for us.

ETH and other altcoin still tied to bitcoin so whenever there is change on bitcoin it also affect ETH that is my opinion.

[davinchi]

They dont notice it if it will just be a few dollars.
They want like 100 dollars of changes before they will say it was really a bull run.

I still some ETH in my stash and I am still looking forward for ETH to bounce back. Not much of a trader using major coins. Would rather hold them and add some more.
Thanks for the update though.

Ethereum will surely bounce back but basically what I do with most of my crypto currencies is to trade at least 50% of them day trading, so what I do it to use any profit I get from my day trading to invest by buy again when price is deep for a long term investment, so any of the effect all favor me, just that I have not started counting profit based on FIAT that I have since I still use most of my profit to buy more at deep. It is a new week, We still hope to see what the week has in store for us.

[neonshium]

The entire crypto market moves together so I think it is a bit foolish to single out single coins.  Maybe in the future ethereum will start to breakaway from bitcoin's path but it remains to be seen.  Eth is one of the best buys right now considering how low it is down from the all time high.

One of the most preferred way of making money in cryptocurrency is to invest in the good coins when they touch the all-time low price. This is a good way to claim profit in long term. Regardless of the bear market, there could be considerable profit in ETH in future if you invest in bulk right now and you can really do that because you have the opportunity to own many ETH for a very low price.