Ethereum Technical Analysis: Battling For Control

Ethereum Technical Analysis: Battling For Control
ôîòî ïîêàçàíî ñ : cryptobriefing.com

2019-2-18 18:45

ETH / USD is bullish in the short-term with buyers looking to target the $166.00 level ETH / USD pair’s Medium-term outlook remains uncertain until a series of major upside levels are breached Ethereum has turned bullish against Bitcoin, with price now trading above the pair’s 200-day moving average for the first time since June 2018 Ethereum / USD Short-term price analysis

 

In the short-term, the ETH / USD pair is bullish after staging a breakout rally above the $125.00 resistance level. Buyers and sellers have been battling for control of the third largest cryptocurrency, with bulls now in control of price action and attempting to negate a head and shoulders pattern on the four-hour time frame.

Traders should expect the bullish short-term bias in the ETH / USD pair to last while price trades above the $125.00 level, while the $116.00 level offers critical technical support below.

 

 

ETH / USD H4 Chart                                                                         (Source: TradingView)

 

 

Pattern Watch

Traders should watch for the bearish head and shoulders pattern on the four-hour time frame to be invalidated if the recent rally extends towards the $166.00 resistance level.

 

MACD Indicator

The MACD indicator on the four-hour time frame has turned bullish and is generating a strong buy signal.

 

RSI Indicator

The RSI indicator on the four-hour time frame has moved into extremely overbought territory and is signaling that a near-term pullback may occur.

Ethereum / USD Medium-term price analysis

 

Ethereum remains bearish against the US Dollar in the medium-term, with the ETH / USD pair yet to break above any major technical levels and price still trading below the pair’s 200-day moving average.

Buyers must break above the $166.00 level in order for the ETH / USD to start making bullish higher price highs and thus shift the bearish dynamic that has been underway in the pair since last summer.

The $186.00 and $230.00 levels offer the strongest forms of technical resistance if bulls can breach the $166.00 level.

 

 

ETH / USD Daily Chart                                                                         (Source: TradingView)

 

 

Pattern Watch

The daily time frame shows that the ETH / USD pair has the potential to form a large inverted head and shoulders pattern if the upside rally continues.

 

MACD Indicator

The MACD indicator on the daily time frame has turned bullish and shows scope for significant upside.

 

RSI Indicator

The Relative Strength Indicator on the mentioned time frame is currently bullish, although it has moved into overbought territory. 

Conclusion

 

The ETH / USD pair has turned bullish in the short-term, but still retains a bearish medium-term outlook. Bulls must keep price above the $125.00 level and start to rally the pair above the $166.00 level in order to change the dynamics of the ETH / USD pair.

Ethereum / Bitcoin Short-term price analysis

 

In the short-term, the ETH / BTC pair is bullish with price recently rallying towards trading levels not seen since early January.

A bullish trendline breakout has occurred on the four-hour time frame, while technical indicators are also rising alongside price.

Ethereum is trading at a critical juncture against Bitcoin, with bulls needing to move price above the pair’s current yearly trading high to negate the bearish head and shoulders pattern.

 

 

ETH / BTC H4 Chart                                                                         (Source: TradingView)

 

 

Pattern Watch

A degree of caution is still advised for traders looking to buy the pair, as a large head and shoulders pattern remains valid on the mentioned time frame.

 

MACD Indicator

The MACD indicator has turned bullish on the four-hour time frame.

 

RSI Indicator

The Relative Strength Index is bullish on the four-hour time frame although the indicator is currently overbought.

Ethereum / Bitcoin Medium-term price analysis

 

The ETH / BTC pair has turned bullish over the medium-horizon, with price now trading above the pair’s 200-day moving average for the first time since June last year.

If buyers can move price above the current yearly trading high, a strong rally is likely to occur as there is relatively limited technical resistance until the 0.4800 level.

A bullish double-bottom pattern formation also appears to be in place following the recent rally in the pair.

 

 

ETH / BTC Daily Chart                                                                         (Source: TradingView)

 

 

Pattern Watch

Traders should note that a large bearish head and shoulders pattern is still valid on the daily time frame.

 

MACD Indicator

The MACD on the daily time frame is currently generating a strong bullish signal.

 

RSI Indicator

The Relative Strength Index on the daily time frame has turned bullish, although similar to lower time frames the RSI indicator has moved into overbought territory.

Conclusion

Ethereum has moved above its 200-day moving average against Bitcoin for the first-time since June of last year; daily price closes now become crucial for the ETH / BTC pair. If bulls can rally price above the current yearly trading high, the ETH / BTC pair is likely to perform another strong upside move.

 

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Ethereum
(ETH) Price $145.69 Market Cap $15,234,828,662.44 #ccpw-ticker-24553 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24553 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24553 a.tabperiods.tabperiods_active, #ccpw-ticker-24553 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24553 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24553 .coin-container:after, .ccpw-container_four #ccpw-ticker-24553 .coin-container:after {border-color:#ccc !Important;} Join the conversation on Telegram and Twitter!

 

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control ethereum battling analysis technical crypto briefing

control ethereum → Ðåçóëüòàòîâ: 126


Avoiding QuadrigaCX’s $190 Million Disaster: How Do the World’s Largest Crypto Exchanges Store Funds?

Canada’s largest crypto exchange QuadrigaCX lost more than $190 million worth of user funds and is unable to reimburse its users. As CCN reported on February 1, the founder and CEO of QuadrigaCX passed away in India with sole control over the company’s cold wallets containing more than $150 million in cryptocurrencies like Bitcoin and Ethereum, and $40 million in cash stored with a third party.

2019-2-3 11:48


Cardano ñòàë ñàìîé àêòèâíî ðàçâèâàþùåéñÿ ìîíåòîé ïî âåðñèè GitHub: íîâûé êîíêóðåíò Ethereum

Ê êîíöó 2018 ãîäà ïîÿâèëîñü ìíîæåñòâî èíòåðåñíûõ ñòàòèñòè÷åñêèõ äàííûõ î êðèïòîèíäóñòðèè. Èíòåðåñíûé îò÷åò ïîñòóïèë îò CoinCodeCap, ïîðòàëà, êîòîðûé âåäåò ó÷åò âñåõ èçìåíåíèé âíåñåííûõ â êîä êðèïòîâàëþò.

2019-1-17 16:00


Bitcoin (BTC) Price Analysis: Can Sellers Stay in Control?

Bitcoin has formed lower highs and higher lows on its 1-hour time frame to create a descending channel pattern. Price is bouncing off support and might be due for a test of the resistance soon. Applying the Fibonacci retracement tool on the latest swing high and low shows that the 50% level lines up with […] The post Bitcoin (BTC) Price Analysis: Can Sellers Stay in Control? appeared first on Ethereum World News.

2018-10-29 05:16