ETH Ethereum Analysis



Site Admin
Apr 2017
ETH has been bumping along under the weight of a 3rd arc pair on a longer-term chart for the past few days. There is an energy point approaching. Which way will it likely break? Up or down?


The first thing I notice is that pricetime is still below the 3rd arc, so that would be a red flag urging caution. On the other hand, price has tested that arc some 6 times now, and has not been slapped down yet. This suggests that sooner or later the arc will yield. Is that time now?

I tend to think it is likely to rally soon. One of the clues I have is the ETHXBT chart:


Here we see two setups (we looked at this chart over the weekend). Interestingly, both setups have arcs which intersected at the present time. One of those arcs pairs is a 5th arc pair (black). Pricetime is very close to exiting both of those arcs in the next several hours (unless there is a sudden reversal to lower prices quite soon).

This chart, while not yet giving a buy signal, is very likely to give one soon, with a close above 2 arc pairs. This could mean one, or both, of two eventualities:
  1. ETH is about to rally, and/or
  2. XBT is about to fall
I am a bit bearish on XBT (short term). So possibility 2 seems reasonable to me.

But the two charts together leads me to suggest ETH is likely to rally soon.