Technical Analysis – Ethereum Forecast

0
72
brian@lamyungching.com

Hi Traders! Ethereum technical analysis and forecast is here. As we do in every technical analysis post we are going to perform the technical analysis on Ethereum in this post. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting and useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available!

Ethereum H4(4 Hours) Chart Analysis – Bullish Divergence, Downtrend Line Breakout, Bullish Trend Pattern, Triangle Breakout

On the H4 chart, the price which was moving lower has created a double wave down with a bullish divergence that has formed between the first low that has formed on 7th September 2020 and the second low that has formed on 23rd September 2020 based on the MACD indicator, which we may consider as evidence of bullish pressure. Then the price which was moving higher has broken above the downtrend line we may consider this as another evidence of bullish pressure. In addition to this, the price then created two higher highs, higher lows pattern and after the second high, the correction happened in the form of a triangle pattern. Currently, the price has broken above this triangle pattern and has created a new high thus creating a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as yet another evidence of bullish pressure. So based on all this, my view remains bullish here and I expect the price to continue higher further until the uptrend line (marked in green) holds.

(Note: You can learn about a Killer Forex Strategy “Double Trend Line Principle” here)

Technical Analysis - Ethereum Forecast

 

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.

Join Traders Academy Club Now

Also you can get one of my strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Yordan Kuzmanov
Chief Trader at the Traders Academy Club

Click To Join Our Community Telegram Group

Advertisement

How to Invest in Amazon

4 Advantages of Amazon Investing - Read More

  • Amazon’s net a bullish 450% 5-year gain
  • Amazon’s ROI is 6x’s the S&P 500 Index of 67%
  • AMZN shares may hit +$10,000 by mid-November 2024
  • Amazon’s growth since IPO tops more than 12,000%

Now is the time to invest in Amazon

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments