U.Today Franchise
0
📈 Price Predictions

ETH Price Can Rise to $280 if It Breaks Resistance. A Sneak Peek at Technical Indicators on ETH Price Chart

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
ETH Price Can Rise to $280 if It Breaks Resistance. A Sneak Peek at Technical Indicators on ETH Price Chart
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Staying around the $170 level, Ethereum seems to stay suppressed by bears, but traders don’t despair. Some of them come up with positive ETH price forecasts, and tradingview experts are not an exception.

Let’s see what they think and which technical indicators they take into account when giving Ethereum price predictions.

ETH will continue rising to $280

ETH has potential to reach $280

According to MrInvertigo, Ethereum has just broken through its bearish downtrend and is about to start a new trend. Its downtrend started in early January 2018 and hasn't been broken since until now.

A Golden Triangle has formed with the 50 days moving average crossing through the 200-day moving average. This is another bullish sign which means ETH is to rise to at least the $200 level. However, it even might continue going up to reach $280 before meeting some resistance and consolidating.

👉MUST READ

Ethereum’s Joe Lubin: Tron Adopts “Fake It Till You Make It” Strategy

Ethereum’s Joe Lubin: Tron Adopts “Fake It Till You Make It” Strategy

ETH is being rejected again and again

Check out the trading strategy

Many bulls reckon that Ethereum is heading up but there are a few crucial technical indicators that we need to look at.

  • For example, the 21EMA (in mustard) served as support multiple times and rallied off of it. That rally took us to almost the 61.8% retrace perfectly and now we're getting rejected.

  • Currently, we are below the 21EMA and just retested it. Finding support currently at the 30SMA on the 4H chart but as soon as that breaks, and we will probably be in a downward trajectory back to $162 at a minimum but more than likely heading to $158.

  • 200SMA looks confident, but we very well could go down below that.

We should be keeping an eye on this but if this candle closes below the 21EMA on the 4H timeframe, it looks like a good short opportunity to take advantage of some more downside for Ethereum.

You can enter the market and remember that the stop loss is around $170.

👉MUST READ

Elon Musk Tweets Ethereum, Vitalik Buterin and Justin Sun Respond

Elon Musk Tweets Ethereum, Vitalik Buterin and Justin Sun Respond

ETH gets back to support levels

ETH reversed off resistance

On the price chart from easyMarkets, we can see that ETH/USD reversed off our first resistance (horizontal overlap resistance, 61.8% Fibonacci extension) where a strong drop might occur to our major support (100% Fibonacci extension, horizontal swing low support). Stochastic is approaching resistance as well.

You can enter the market and play long if ETH heads to the support levels. But remember that trading CFDs on margin carries high risk. Such a strategy is suitable for advanced players only.

ETH might drop to $100

ETH might fall to $100

Take a closer look at this Ether price chart: there’s a clear rising wedge forming. Thus, while everybody seems to be bullish, user BRValentine is sure that ETH will fall considerably. His worst scenario is $100 which will serve as good support.

Final thoughts

As we see, technical indicators on Ethereum price charts are controversial. While some are sure that Ether is to grow further, realistic traders see that indicators show a few bearish signs. Right now, it’s the perfect time for trading Ether both on shorts and longs. The first variant is great for experienced users, while beginners can make a stake on long-term Ether growth, which might happen in Summer.

Price charts are taken from TradingView

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

Recommended articles
CLOUD MININGPromoted
0
📰 News

Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    John Griffin says that rapid price swings are possible because it can be manipulated by deep-pocketed whales who are not stronger than ever

Bitcoin Price Can Be Easily Pushed Down by Whales: Professor John Griffin
Cover image via u.today
Contents

Economics professor John Griffin recently rang alarm bells over the impact of Bitcoin whales on the Bitcoin market. 

Griffin told Bloomberg that a few large players could easily push the BTC price down at a whim. 

"The problem with a few large players holding crypto is that when they sell they can easily push the price down, which makes the market susceptible to rapid swings."  

👉MUST READ

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

Whales are getting more powerful 

According to data released by CoinMetrics, the number of orange coins controlled by deep-pocketed Bitcoin investors reached its highest point in four years in 2019. As of December, a whopping 42.1 percent of Bitcoin's total circulating supply is stored in wallets that hold between 1,000 and 1 mln BTC. 

While crypto exchanges are known to be the owners of the richest Bitcoin addresses, investor Aaron Brown warms some of the new whales on the block are family offices and affluent individuals who are not exactly keen Bitcoin believers who might be tempted to jump ship if things turn south. 

“I doubt they have infinite patience, and without significant growth in actual use, I would expect them to quietly withdraw to chase other promising technologies,” Brown said.

👉MUST READ

Peter Schiff Says Bitcoin Is Running Out of Buyers to 'Keep Ponzi Going'

Peter Schiff Says Bitcoin Is Running Out of Buyers to 'Keep Ponzi Going'

Becrying Tether's impact on Bitcoin 

Speaking of those who don't believe in Bitcoin, Griffin probably takes the cake as one of the most prominent naysayers. Back in June 2018, together with his colleague Amin Shams, he published a paper that explores how Tether was allegedly responsible for propelling Bitcoin to new highs during the peak of the previous bull market in December 2018. 

At the beginning of November, the two academics came up with an even more shooking claim -- the historic ascent of Bitcoin to its current all-time high of $20,000 was the deed of a single whale on Bitfinex, the affiliated exchange of Tether.

Tether dismissed the updated study as a puff piece that was meant to back up a $1.4 trln lawsuit against the flagship stablecoin issuer. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted