The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Ethereum traders must keep a close eye on this before entering a trade

by Miki 07/19/2021
by Miki 07/19/2021 0 comment

The past few days have seen Ethereum prices trade within the confines of a horizontal channel as the broader market lacked clear direction. However, the most recent wave of selling pressure dragged ETH below the half-line of its pattern and focus now shifted to a defensive line of $1,850. At the time of writing, Ethereum traded at $1,870, down by 4.8% over the last 24 hours.

Ethereum 4-hour chart

Source: ETH/USD, TradingView

ETH’s upper trendline of its horizontal channel presented a resistance mark of $2,000, whereas the bottom trendline coincided with 19th May’s swing low of $1,850. The past few days have been periods of buying pressure followed by selling pressure as prices oscillated between the aforementioned range. The fact that a breakout has not yet occurred suggested that ETH had settled into a consolidation phase and awaited the next big price swing. The question was- in which direction will ETH swing next? There were no clear answers at the moment but there were a few positive signs in the market.

Reasoning 

The Relative Strength Index’s uptrend was halted below 55 and switched to a downtrend. However, finding support at 40 and moving north would keep an overall upwards trajectory still intact- a development that would back a bullish outcome. On the other hand, a move below 35 would validate a bearish outcome. The Directional Movement Index’s -DI and +DI diverged and suggested that a bearish trend was increasing. The On Balance Volume’s uptick also instilled some optimism in the market as buying pressure was on the up.

If ETH bulls manage to capitalize on some positive signals in the market, prices could break north of this channel over the coming days and head towards the $2,100-2,150. However, ETH’s indicators presented both sides of the coin and a bearish outcome would result in a decline towards the 22nd June swing low of $1,700.

Conclusion 

ETH traders must keep a close eye on $1,850 support before entering a trade. While longing ETH at this defense could be a viable strategy, one must be cautious of an extended decline as well. A less risky move would be to wait for a trend confirmation before opening a long or short position.

Source link

Views: 1
CloseEnteringEthereumeyetradetraders
Share
0
FacebookTwitterPinterestEmail
previous post
Alibaba’s Largest E-commerce Platform Taobao Firstly Presents NFT Artworks in Festival Week
next post
DeFi Protocol Aave to Launch Ethereum-based Alternative to Twitter

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Elon Musk says Tesla will accept dogecoin as payment for merchandise, touts its value for transactions

  • Miami City Launches Its Native Digital Token MiamiCoin (MIA)

  • A history of cryptocurrency, from gaming tokens to a $2tn market

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,180.003.21%
  • ethereumEthereum(ETH)$2,011.322.21%
  • tetherTether(USDT)$1.000.03%
  • usd-coinUSD Coin(USDC)$1.000.13%
  • binancecoinBNB(BNB)$305.563.94%
  • rippleXRP(XRP)$0.4198100.79%
  • Binance USDBinance USD(BUSD)$1.00-0.02%
  • cardanoCardano(ADA)$0.530.99%
  • SolanaSolana(SOL)$52.212.16%
  • dogecoinDogecoin(DOGE)$0.0865541.15%
  • polkadotPolkadot(DOT)$10.061.48%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,169.003.29%
  • Lido Staked EtherLido Staked Ether(STETH)$1,975.332.24%
  • AvalancheAvalanche(AVAX)$29.93-2.79%
  • tronTRON(TRX)$0.0737472.19%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.14%
  • daiDai(DAI)$1.000.09%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.175.02%
  • CronosCronos(CRO)$0.1950163.28%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.970.65%
  • matic-networkPolygon(MATIC)$0.650.12%
  • FTX TokenFTX Token(FTT)$30.771.86%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.06-0.31%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$194.640.22%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.131.52%