Crypto Screener Forums Ethereum (ETH) Forecast – Technical Analysis Ethereum (ETH) Technical Analysis – December 2017

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  • #1048
    margincall
    margincall
    Keymaster

    This is the thread for analysis on the Ethereum markets in the month of December 2017.

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  • #1147
    admin
    admin
    Moderator

    Ethereum had a great run this month pushing up to $900 before we saw the bears taking profit. Most altcoins are facing strong corrections at this point, very healthy for the markets before we push higher.

    ethusd forecast 24 December 2017
    I see strong support between $500 – $600, with 600 being our immediate support. For long term speculation one could open a small position at these levels as well as placing some order down the line to $500.

    Even though the markets are scary for most this week ETH is giving us a major bull flag long term speaking, however nobody can predict the markets and we should be prepared for anything.

    Market is currently bearish, if you would prefer a safer trade you could consider waiting for the breakout trade in the $700 – $800 zone.

    In my opinion Ethereum is one of the leading blockchain projects at this point and this could be another perfect time to buy the dip. Safe trades!

    Feel free to discuss the Ethereum markets with us in Slack.

    #1077
    margincall
    margincall
    Keymaster

    ETH performed very well this past week, we can see that our previous analysis that was done was spot on.

    When markets turn bullish it is important to follow the trend, stay long until your stoploss gets triggered, and keep moving your stoploss up as the market prices push higher.

    Taking a look at the ETH market for the shorter term view.

    ETHUSD Forecast 15 Dec 2017

    The market is currently undergoing a correction and it the quite difficult for most traders to decide when to enter the market in these conditions.

    As there are many contradicting indications on the market at the moment I will look at the RSI to show me what the market will do. As it stands right now we can see that the open interest is building and should the RSI jump up and consolidate above 50 we will join the price channel.

    Should the RSI stay below 50 I expect the prices to drop and would place buying orders in the 580 to 650 zone.

    Please feel free to ask me about my analysis on our Slack.

    #1061
    margincall
    margincall
    Keymaster

    The Ethereum market is bouncing back strongly this morning and I am happy with buys getting triggered from 440 down to 410.

    ethusd forecast 12 dec 2017

    Breakout should happen above 450 – 500, the teams are working hard to scale ETH A.S.A.P. and this gives me great confidence.

    Please not this is just my opinion on the markets for educational purposes.

    #1049
    margincall
    margincall
    Keymaster

    Ethereum has has a great run this year and December has seen the birth of CryptoKitties.

    Why is this important, well it really put the Ethereum network under pressure and users are complaining about higher fees and transactions being stuck.

    The point to consider here is how powerful the Blockchain tech is, a little game that went viral and is already attracting a lot of capital.

    It is just a matter of time before a variety of these dApp games and more serious dApp’s take ETH to the new frontier, $1000 and beyond.

    To the technical side of things, we can see the market struggling to maintain its bullish form and the ichimoku cloud is hinting that we are seeing some bearish action.

    ethusd forecast

    RSI is bearish on the shorter term.

    First level of support to get tested will most likely be 440 and if that fails I will consider placing some buy orders slightly above $400 to catch the dip. If there is a situation where Bitcoin loses value and the kitties are pressuring the network prices could dip below $400 into the 300 zone where I think it should get bought up pretty quickly.

    Taking a look at Ethereum VS Bitocin on the longer timeframe.

     
    ethbtc forecast
     

    The candles paint a bloody picture for ETH against Bitcoin and we are currently testing a critical support zone at 0.034 – 0.032, should these levels fail there will be more speculators jumping out of the market.
    With that said, “Be fearful when others are greedy and greedy when others are fearfull”.

    Feel free to discuss any of my trades on our Slack. Safe trades!

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