Forum Forums Ethereum (ETH) Forecast – Technical Analysis Ethereum (ETH) Technical Analysis – April 2018 Reply To: Ethereum (ETH) Technical Analysis – April 2018

#17565
margincall
margincall
Keymaster

Ethereum has regained some momentum after dropping more than 70% since the all time high in the beginning of this year.

Ethereum vs US Dollar

ethusd forecast 16 April 2018

Looking at the one day candles we can see that the start of April saw the market action dropping below $400.

In my opinion there was enough open interest in the Ethereum market and a nice little bull run developed.

Well done to the premium members that caught this trade setup.

At the moment I think that Ethereum will most likely follow in Bitcoin steps when it comes to the Dollar.

Summary:

Support – S1: $500 – S2: $400 – $450 – S3: $360

Resistance – R1: $540 – R2: $580 – $600

Ethereum vs Bitcoin

ETH vs BTC 16 April 2018

ETHBTC has started a nice little uptrend and if this momentum continues there could be a very nice break to the topside in the near future.

In my opinion there is strong support in the 0.059 – 0.062 zone, I am bullish on the Ethereum market should prices stay above this.

Should the market consolidate below these levels there will be more blood on the Eth streets.

Higher risk trades that were entered around the 0.055 will be closed should we dip below 0.062.

I think it is important to remember that the price of Ethereum was a mere $4 at the start of 2017, we are still up x10 on the longer term view so more downside could be possible.

Summary:

Support – S1: 0.062 – S2: 0.059

Resistance – R1 – 0.064 – R2: 0.066

Like they say on the street, “the trend is your friend”, I will wait for the market to break the trend before getting out. Safe trades.