$ETHUSD - New ATH is just a beginning of a new uptrend
Hi guys! 👋🏻
🔔 Ethereum reached an all-time-high yesterday, January 19, 2021, closing the new ATH at $1438.66. Key update for such a run and note for Ethereum long and mid-term investors is an announcement of the Ethereum research team EthStaker during their last week’s Community call, which said that turning off PoW is closer than expected and could have a higher priority than sharding.
🔔 Ethereum still is an asset to watch closely as the DeFi ecosystem continues to grow and in 2021 might face a greater advance following a statement from Janet Yellen yesterday, where she pointed out the concerns over usage of cryptocurrencies in terrorist financing.
🔔 Note that on January 13, Christine Lagarde during her interview called for the same, saying that cryptocurrency transactions should be regulated on an international level. These statements could boost DeFi hype once again, and DeFi hype will pull Ethereum price to the new All-time-highs.
🔔 At this point there are no signs of a trend reversal, the pair continues to advance higher in an uptrend channel following levels of the Andrew’s Pitchfork. MA100 supports the uptrend continuation, RSI indicator is close to oversold and MACD which is a lagging indicator haven’t yet confirmed the bull run.
🔔 On a 15-minute time-frame of the ETH/USD chart, the first ever altcoin has formed a short-term descending channel, which in technical analysis is also called a bullish flag. Bullish flag is a corrective pattern, breakout from which signals a continuation of an uptrend.
🔔 As seen on the chart above, there are two important levels to watch closely, one is the January 10 resistance, which was tested as a support previously and a resistance of January 16 high at $1291. The best scenario for Ethereum is to test the $1300-1280 area as a support, do not close below the lower threshold of the ascending channel and continue uptrend. If the breakout from the bullish flag is confirmed, watch for levels at $1533 and $1550.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Ethereum reached an all-time-high yesterday, January 19, 2021, closing the new ATH at $1438.66. Key update for such a run and note for Ethereum long and mid-term investors is an announcement of the Ethereum research team EthStaker during their last week’s Community call, which said that turning off PoW is closer than expected and could have a higher priority than sharding.
🔔 Ethereum still is an asset to watch closely as the DeFi ecosystem continues to grow and in 2021 might face a greater advance following a statement from Janet Yellen yesterday, where she pointed out the concerns over usage of cryptocurrencies in terrorist financing.
🔔 Note that on January 13, Christine Lagarde during her interview called for the same, saying that cryptocurrency transactions should be regulated on an international level. These statements could boost DeFi hype once again, and DeFi hype will pull Ethereum price to the new All-time-highs.
🔔 At this point there are no signs of a trend reversal, the pair continues to advance higher in an uptrend channel following levels of the Andrew’s Pitchfork. MA100 supports the uptrend continuation, RSI indicator is close to oversold and MACD which is a lagging indicator haven’t yet confirmed the bull run.
🔔 On a 15-minute time-frame of the ETH/USD chart, the first ever altcoin has formed a short-term descending channel, which in technical analysis is also called a bullish flag. Bullish flag is a corrective pattern, breakout from which signals a continuation of an uptrend.
🔔 As seen on the chart above, there are two important levels to watch closely, one is the January 10 resistance, which was tested as a support previously and a resistance of January 16 high at $1291. The best scenario for Ethereum is to test the $1300-1280 area as a support, do not close below the lower threshold of the ascending channel and continue uptrend. If the breakout from the bullish flag is confirmed, watch for levels at $1533 and $1550.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
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