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Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

  • Thomas Hughes
    📈 Price Predictions

    After establishing a bottom at $83 and then moving sideways for an entire month (27 Feb. 2019 – 25 Mar. 2019) Ethereum bulls stepped in and drove ETH/USD to a high of 182.88


Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
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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.

The Ethereum platform went live in July 2015 and has been experiencing growing pains ever since. The original blockchain was split into Ethereum and Ethereum Classic in 2016, due to lack of consensus regarding The DAO. Since then it has undergone several forks and upgrades, most recently Constantinople. 

Constantinople was an upgrade of Ethereum’s features, had consensus and did not result in a split blockchain and two separate coins. The Constantinople upgrade occurred at block 7,280,000, on the 28th of February 2019 and was highly anticipated, mostly because it was postponed twice before. The bad news is that it didn't include all it was supposed to, there are more upgrades and forks on the way. 

The native crypto asset is Ether. Ether can be used to run applications and to monetize work but can also be traded on any cryptocurrency exchange. The token has been moving up along with the broader cryptocurrency market but is a laggard with gains less than 80% since the low of the year. 


Ethereum (ETH) Price Analysis – The Big Picture

Ethereum is ranked number 2 on CoinMarketCap with a circulating supply valued at $17,716,774,261 It is trailing Bitcoin by a large margin but more than $3 billion ahead of number 3 Ripple so firmly established at this time. 

ETH/USD chart by tradingview

ETH/USD chart by TradingView

After establishing a bottom at $83 and then moving sideways for an entire month (27 Feb. 2019 – 25 Mar. 2019) Ethereum bulls stepped in and drove ETH/USD to a high of 182.88. The bullish price action was milder than what we’ve seen on other cryptocurrencies and has since begun to correct. Bitcoin, for example, climbed from roughly $4,000 to almost $5,400 during the latest market push and many other coins in the top 20 posted massive gains above 100% before entering the current market correction.  

This begs the question: is Ethereum undervalued? If the answer is Yes, then we will probably see a climb after the pullback is completed. The weekly MACD is crossed bullish and the histogram is increasing but the move is weak and paints a blurry picture. If the lines move above the histogram and the pair surpasses $250, the likelihood of a climb into $375 in 3 to 6 months will increase.

ETH/USD chart by tradingview

ETH/USD chart by TradingView

On the Daily chart, we can clearly see that strong resistance at 165 was broken. This is a strong bullish sign because resistance was marked y two previous selloffs. Usually, a break of such a chart pattern triggers a sustained climb as more buyers join the action. Often times price re-tests the recently broken level of resistance turned to support before heading higher and that is what looks like is happening. 

If we are indeed dealing with a normal re-test, then the price is likely to shoot higher from the vicinity of $165 - $160 or possibly to bounce at the 100 days Exponential Moving Average. A clear break below $165 and below the 100 days EMA would indicate that the break of the double top at $165 was false.

Daily Chart Support: $165 (not confirmed support - currently tested), 100 EMA, $134
Weekly Chart Support: $100 (psychological), $80 - $83 (zone) and all-round numbers below
Daily Chart Resistance: previous top at $182 followed by $200 (psychological) and $250 (technical)
Weekly Chart Resistance: $250, 100 weeks EMA, $375
Most likely scenario: If the pair finds support at $160 or at the 100 days EMA, it will probably make a run for the next target, which is $200, followed by an extended run into $250. If this scenario comes true, we may see $375 in 6 months’ time.
Alternate scenario: The break of $165 proves false and ETH drops back into $100 area.
 

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Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions


Pump or Dump? BTC Price Analysis Is Interpreted in Two Opposite Versions
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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

One of the most extravagant crypto traders on YouTube, Crypto Kirby Trading, has come up with his own observation of Bitcoin price predictions and technical analysis. His notes give us a hint that there are two ways for BTC to go. What are they? Watch this YouTube video and check out which BTC price theories the trader has.

Head & Shoulders pattern – a bullish sign

Head & Shoulders bearish pattern cannot stay unnoticed – we can see it forming from the beginning of April until now. However, the right shoulder hasn’t formed yet, so the pattern should be confirmed – don’t rush to make conclusions.


What happened recently when BTC fell into the abyss? According to Crypto Kirby Trading, it was resistance short. Shorts got a little bit high, and they squeezed it. In fact, the recent squeeze didn’t bring us anywhere – it’s like nothing happened.

At the moment, BTC goes sideways and sees resistance. Judging by H&S pattern, the volume peak has been reached, and now we are under resistance line in the right shoulder. If BTC’s price suddenly goes up, the pattern will be invalidated.

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Pattern within a pattern

Which pattern has been taken by BTC? It depends on how you look at it! What do we have here?

Descending triangle pattern or an ascending triangle (a little bit longer term)? Both are possible!

There has been lot of speculation about these patterns – that’s the problem. So, we have two different triangles and H&S, three patterns at the same time. If the H&S or descending triangle get validated – BTC is expected to go down to $5,000 and further into the abyss.

Take a look at the chart. We are still trading below the key resistance in the red box, and the rest of indicators still look bearish. We haven’t been trading so low since February 2018! That’s why it’s hard to believe that we will pump.

According to Crypto Kirby Trading, the $6,000 resistance might be very hard to beat – the hardest in BTC history. Very unlikely that it will happen in the nearest time, but who knows?

So, what should happen?

Crypto Kirby Trading  reckons that the possible $4,500-$4,300 would be a better bottom to buy BTC even than at the winter level. However, you should be very attentive. We are testing the November 2018 levels, and it’s important to make proper adjustments here.

Currently, the volume has been higher than in the previous months, but it’s not promising – it seems to be declining gradually. If we go down, we will reach consolidation to resistance.

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What should happen for a dump?

If we move sideways without touching resistance, expect a bearish period, and we’ll continue adjusting the triangle pattern until it breaks. Confirmation of patterns is required – don’t rush to make conclusions yet.

One more thing signifying a possible dump is the Fear & Greed Index – 61, which means we can fall as it always occurs when we get greedy and want to squeeze maximum profit from the market.

What should happen for a pump?

For pump, we should break the red box ($5,750). We should test the top of the box as well as the H&S and reach new volume – we want this boom to happen and bring us to the top, don’t we? If that happens, opportunities can get insane because the bulls vs bears battle will be epic. We might get through $6,000-$7,000, but of course not without failing the first attempts to scratch the top – it always happens this way.

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