In my last analysis I mentioned the possibility that ETH could break the resistance and go up further - what has happened.
And with this move I had to adjust my analysis.
It is now to expect that the price arrives at the next resistance at 1.800$ (261.8%).
I also drew another EW-possibility (not third but already the fifth wave). Elliott wave-theory is very subjective!
Fundamentally ETH is stronger than the other coins, including especially Bitcoin. Its blockchain has more to offer than only a financial transaction. So, in the long run I expect at least a doubling of the prices (perhaps even a triple).
Indicators:
RSI: strong
MACD: strong
ADX: momentum is falling, +DI climbing and -DI falling = positive
conclusion: I expect rising prices with some consolidations sideways
And with this move I had to adjust my analysis.
It is now to expect that the price arrives at the next resistance at 1.800$ (261.8%).
I also drew another EW-possibility (not third but already the fifth wave). Elliott wave-theory is very subjective!
Fundamentally ETH is stronger than the other coins, including especially Bitcoin. Its blockchain has more to offer than only a financial transaction. So, in the long run I expect at least a doubling of the prices (perhaps even a triple).
Indicators:
RSI: strong
MACD: strong
ADX: momentum is falling, +DI climbing and -DI falling = positive
conclusion: I expect rising prices with some consolidations sideways
Nota
this was a heavy shock for all cryptotraders. It is now the question: have the news changed anything fundamentally?I don´t think so. But it´ll take some time for normalization.
Meanwhile the ETH has broken the support (now resistance). If it won´t come back or even fall deeper then this could also signal that wave 5 has ended earlier! and we´re starting with corrective Wave A.
This could lead to prices around 1.000$ (psychological mark) - 1.050$ (resistance).
We´ll have a look on the development.
At the moment all indicators are negative - not surprisingly.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.