Well Hello There…
Here is the Technical Analysis for Ethereum (ETH)
ETH is moving in an “upward” trend.
It is above both short term Moving Average (EMA-20) and the Long term Moving Avarage (EMA-50). Short Term Moving Average is at (0.085) and long term moving average is at (0.07).
ETH is forming two “Bowl Formations”.One big bowl and one small bowl. I showed the big “bowl formation” in yellow. It is formed between 0.15 - 0.02. I showed the length of the formation with “S” which is 0.13 (0.15 - 0.02 = 0.13). The small bowl formation is shown with pink. It is between 0.10 - 0.08. I showed the small bowl length with “h” which is 0.02. (0.10 - 0.08 = 0.02)
In the short term, as the price stays above the Moving averages, It will try to complete the small bowl (pink) at 0.10. Once the small bowl is completed and 0.10 is passed upwards then the price will aim 0.12 ( 0.10 + 0.02(h) =0.12)
In the long term, as the price continue to stay above the moving averages It will aim to reach 0.15 to complete the big bowl. Once the big bowl is completed then as a result of formation the price will aim minimum “S” length upwards. Once 0.15 is passed upward, the price will aim to reach 0.28 (0.15 + 0.13(S) = 0.28)
Stop Loss is 0.07 (Long Term Moving Average)
Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving avareges It represents an “Downward” Trend.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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