ETH has fallen to the support at fib retracement 23,6% (775$) on Bitfinex but then rebounced.
It is still in the ascending trend channel (adjusted) and above the long term ascending trend line.
Next hours or days we´ll see if ETH will drop below the support. In this case the long trend channel (green) is broken and also the long term trend line (coming from dec 2016!). This would be a bearish sign and we would have to expect more falling prices.
But still there is a little hope, that the support halts and ETH continues within the marked green trend channel.
Indicators (RSI and MACD) show weakness, so a second test of support-line is probable. The price is far below EMA 20.
buy: if support halts ETH could rise to next resistance at 38.2% (900$) = + 16% in short term
if next resistance is broken ETH could continue to fib retracement 61.8% (~ 1.100$) = another + 22% gain
-> there we find a strong resistance and a new chart pattern: 3 descending peaks
stop: if ETH breaks the existing trends to the bottom!
As long as ETH stays in the ascending trend channel and above the long term trend line the trend for ETH is positive! That´s important. Be careful with your investments.
It is still in the ascending trend channel (adjusted) and above the long term ascending trend line.
Next hours or days we´ll see if ETH will drop below the support. In this case the long trend channel (green) is broken and also the long term trend line (coming from dec 2016!). This would be a bearish sign and we would have to expect more falling prices.
But still there is a little hope, that the support halts and ETH continues within the marked green trend channel.
Indicators (RSI and MACD) show weakness, so a second test of support-line is probable. The price is far below EMA 20.
buy: if support halts ETH could rise to next resistance at 38.2% (900$) = + 16% in short term
if next resistance is broken ETH could continue to fib retracement 61.8% (~ 1.100$) = another + 22% gain
-> there we find a strong resistance and a new chart pattern: 3 descending peaks
stop: if ETH breaks the existing trends to the bottom!
As long as ETH stays in the ascending trend channel and above the long term trend line the trend for ETH is positive! That´s important. Be careful with your investments.
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ETH has left the channel. Will it come back or stay outside?
There are several resistances to break before it re-enters the channel.
The dashed line significates the long ascending trend. Eth is still above.
I´ve entered today with small sums (not all-in).
There are several resistances to break before it re-enters the channel.
The dashed line significates the long ascending trend. Eth is still above.
I´ve entered today with small sums (not all-in).
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back in trend channel! in comparison with other Coins ETH and NEO have been the best in the last crisis (third place goes to OmiseGo).
If ETH stays within the trend channel the last sell-off has been a bear trap
If ETH stays within the trend channel the last sell-off has been a bear trap
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ETH within long term trend (positive); but on lower limit.
next resistance at 891$ / 939$ (fib retracement / swing trend line)
ETH should not break down the trend channel!
new buy: above the resistance (see above)
stop: below support (~ 750$)
next resistance at 891$ / 939$ (fib retracement / swing trend line)
ETH should not break down the trend channel!
new buy: above the resistance (see above)
stop: below support (~ 750$)