This topic contains 3 replies, has 1 voice, and was last updated by 
margincall 7 months ago.
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This is the thread for price analysis on the Ethereum markets in the month of July 2018.
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Quick look at the Ethereum markets versus Bitcoin and the US Dollar.
We can see that the market recorded some good gains alongside bitcoin this past week and a half, confirming the top of the channel we are finding the market in at around $520. This bullish channel is a welcome sight after the carnage from start of the year.
Right now it seems that the bulls are getting some ETH dropped on them by the bears, a short term correction here will be very healthy for the market. I would expect a pullback to about $480 or lower, depending on the strength of ETH vs BTC
Short term support is around $470 – $490, in my opinion and resistance is quite solid above $520, with $500 being the psychological barrier. Lets have a quick look at the performance against Bitcoin.
Here we can see that ETH is clearly still in a bearish trend versus BTC, this means most of the upside in USD will be capped, and will largely rely on BTC’s movements.
Resistance is getting heavy above 0.07 and we will be patient to wait and see where the market action takes the price Safe trades.
Taking a quick look at Ethereum vs Bitcoin on the 1 Day candle chart.
Since my last report we can see that the price has been rejected by the 20 MA and we continue to trade in a bearish channel vs Bitcoin. There has been some great volatility in the market, as well as excellent trading volume, considering the market we currently find ourselves in.As we can see the top of our channel has been tested a few time and the Stochtastic indicator is giving me hope that we could get some quick gains again on the market. Notice that there is a tight trading range between 0.070 btc and 0.071 btc at this point in time.
This is also my support and resistance zones going into the weekend and next week. I am looking for a break above the 20 MA to signal a charge for the top of the channel. There could be a nice little long here for the higher risk traders.
On the flip side, remember we are currently in a bearish channel vs Bitcoin, this mean lower prices should be expected, keep an eye on the price zones to catch all the action. Safe trades.
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This reply was modified 7 months, 1 week ago by margincall. Reason: grammar
Taking a look at the Ethereum market this morning we can see some similarities with the btcusd chart. Ethereum has followed suite and is also trying to break out of the longer term descending triangle that the market has also found itself in. Lets take a look at the charts.
Ethereum found strong support around $440 where the bulls clearly won the battle and pushes prices through the $460 price point, where Ethereum also leaves it longer term bearish trend behind. Should prices consolidate above $460 we can expect the $500 resistance to get tested, and most likely broken soon.
There is a massive divergence between price and momentum at this point in time and any seasoned trader will tell you that its worth paying attention. To get a even better idea of where Ethereum is standing right now, lets take a look at the market vs Bitcoin.
Ethereum is looking quite bullish against Bitcoin with prices popping above the 20 MA, and another strong bullish indicator is the momentum that has managed to stay above 0. There is also a bullish divergence on this chart and it is another confirmation for me that we could see higher prices incoming sooner than later.Short term support is currently at around $450 – $460, and I am bullish on the ETH market should we stay above this zone. Versus Bitcoin I am looking towards 0.0712 as support and I would expect a nice bullish trend developing should we stay above it. Safe trades.
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This reply was modified 7 months, 1 week ago by
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