Crypto Screener Forums Ethereum (ETH) Forecast – Technical Analysis Ethereum (ETH) Technical Analysis – February 2018

This topic contains 5 replies, has 2 voices, and was last updated by margincall margincall 1 year ago.

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  • #1486
    admin
    admin
    Moderator

    This is the thread for analysis on the Ethereum markets in the month of February 2018.
     

     

     

     

     

Viewing 5 replies - 1 through 5 (of 5 total)
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  • #1606
    margincall
    margincall
    Keymaster

    Good day folks! A quick roundup on the Ethereum markets.

     ETH vs BTC
    ETHBTC forecast 21 Feb 2018

    We can see that the down trend previaled and the market found short term support around 0.078 on the near term, but it is being tested as I write this report.

    Should support fail here I would expect us to revisit the the 0.07 btc zone where the bulls might be lurking.

    We can see that the market is oversold on the 1 Day and that the momentum (PPO) is still currently bearish, which will put some pressure on the bulls.

    As Bitcoin is looking a bit weak against the dollar I will keep an option open for a possible reversal against Bitcoin. This will be confirmed should prices consolidate in the higher 0.08 region going into the weekend.

    ETH vs USD ETHUSD 21 FEB 2018

    As you can see the longer term bearish trend is still in tact and I would expect the market to test the green trend line soon.

    Short term support is around $800 and the bulls need to defend this zone to keep us bullish.

    Medium term support could be as low as $600 and some traders are stacking buy orders down the line.

    On the flip side resistance is around $950 – $1000 and the prices need to consolidate above those levels for me to be bullish on the short term.

    Please feel free to discuss this trade with us in Discord. Safe trades.

     

     

    #1584
    margincall
    margincall
    Keymaster

    As we can see the near term support mentioned in the previous post did not hold and the Ethereum market slipped into a bearish trend versus Bitcoin.

    ETH/BTC ETHBTC forecast 17 Feb 2018

    After prices were rejected by the 20 MA the psychological support around 0.09 failed soon after.

    We are currently testing the support zone around 0.088 and should it fail it will confirm the bearish pressure versus Bitcoin.

    This drop could be severe and I would put support around 0.07 – 0.077 should the above mentioned level fail.

    This is quite normal behavior for for ETH/BTC, considering the Bitcoin market is attracting a lot of attention and marketcap.

    ETH/USD

    ETHUSD forecast 17 Feb 2018

    When we take a look at the market versus the Dollar we can see the market following Bitcoin, this is also quite normal with markets that are actively traded against Bitcoin.

    Short term support is between $900 – $950 and I would expect the prices to move up alongside Bitcoin should the RSI stay above 50 on the 1 Day candles.

    Feel free to come and discuss this trade idea with us in Discord. Safe trades.

     

    #1571
    margincall
    margincall
    Keymaster

    Ethereum vs US Dollar

    Lets dive right in and take a look at the ETHUSD markets today.

    ETHUSD forecast 13 Feb 2018
    Taking a step back onto the 1 Day candles we can see Bear flag staring right at us.

    Even though we broke through the short term down trend, the lack of volume is scaring the Bulls away, for the time being. It is important to note that we are trading well below the MA on the 1Day candle and that is confirmation of the longer term Bearish trend.

    We have contradiction on the Eth chart as well with the MACD temping us into thinking there is a buy signal coming. The RSI is at 40 which is not convincing but we could see some action if the volume arrives and it pushes past 50 and keeps going.

    The price levels to keep an eye out for is $800 – $900. A break above or below this level will show us the direction going into the weekend. Should $800 fail as support it could pay to stack orders down into the $600 – $700 zone.

    Ethereum vs Bitcoin

    Lets have a look at this market for those that are trading ETH vs BTC.

    Ethereum has really been treating its holders with really good gains versus Bitcoin since December last year.

    This shows great confidence in the Ethereum market and is worthwhile noting going into 2018.

    However the breaks have been put on as many are booking profits in BTC. Lets take a look at the chart.

    ETHBTC forecast 13 Feb 2018
    We can see the sellers stepping in to book some profits in the 0.09 btc – 0.12 btc zone.

    Support is looking strong for the time being at 0.09 btc, however I would expect 0.08 btc to come into play as medium term support should the shorter term fail.

    This looks like a very healthy correction for the market and we have a possible bullish pendant forming in near future.

    Should ETH remain strong above 0.09 btc I will take it as a very strong bullish indicator going into 2018. Longer term speaking ETH is poised for some serious gains by 2019.

    #1554
    margincall
    margincall
    Keymaster

    We had a little bit of action on the Ethereum market going into the weekend, but the lack of volume has left ETHUSD in a slow decline back into the $800 zone.

    ethusd forecast 11 feb 2018
    There is quite a bit of selling pressure in the $880 – $1070 price range and the volume is a confirmation that the bulls are not buying at the moment.

    The market is in a tight trading range with our bullish trend lines bringing support around $740 and $700.

    Should support fail at $700 I am confident that we will revisit the lower price ranges where the bulls might be lurking.

    As usual, it could pay to stack buy orders down the order book to catch the knife.

    #1522
    margincall
    margincall
    Keymaster

    Lets take a quick look at the short term view on the Ethereum markets.

    ethereum forecast 7 feb 2018
    I won’t go into to much detail here, basically the same as its big brother bitcoin, posibility of a diamond bottom should prices continue upwards.

    Very bullish momentum in the market with good price action.

    We can see resistance in the very near term is around the $850 zones and the bulls will need to conquer it to summon more bulls to the party.

    Support is around $780 on the near term and should it fail we will most likely test the at the $600 – $700 range again.

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