Jump to content
Sign in to follow this  

Ether - Bid price of $756.00 for upward resumption of trend

Recommended Posts

Ether looks very interesting. It is open source and features smart contract functionality. I think 2018 will be very interesting for Ether. The Enterprise Ethereum Alliance (EEA) is fascinating, especially the participants involved and their calibre. 

 

For me the BID price of around $756.00 is an interesting level. If Ether crosses that and at the time of writing it is only around $14.00 off that mark then Ether will be resuming its upward momentum before possible Bitcoin. Bitcoin has a little bit more to do to recommence its upward march.  If Ether does not cross $756.00 level then I fear another sharp drop back into the $600's. 

 

I see Ether hitting $1000.00 in 2018 if not higher. I think Bitcoin traders and investors need to keep an eye on Ether.

 

For those trading on other platforms as well, keep an eye on Ripple, Stellar and IOTA in 2018.

Share this post


Link to post

I agree. Only issue is if it crosses that level upward it may be too late to get in. 1000 is a definite target but actually I think 1500 will be hit early 2018.

Share this post


Link to post

Situation, it is never to late to get in. As a trend follower that is one of the most valuable lessons I have learnt. 

 

As a trend follower, I will never get in at the bottom and I will never sell at the top. It is the middle part of the trend that I will aim to catch and participate in.

 

Ether is currently around $700.00 area as I write this. If you truly believe that Ether will not only hit $1000 but $1500 then it is not late getting in. Timing cryptocurrencies is extremely difficult. However , if you can get in whilst Ether is in the $600's then it may be worth just watching with some patience as there may be a better entry point. 

 

Share this post


Link to post

Hey, I'm already in, just waiting for post holiday to see reaction. I meant they'll make it unlongable and you'll have to keep checking.

Share this post


Link to post

Not really sure. I thought the whole point of cryptocurrency was that it is not affected by banks. Should really be open.

Share this post


Link to post

Ether hit $887.00 this morning and is clearly attempting to hit its recent high. 

 

It looks like the price action is supporting my opinion and views.

Share this post


Link to post

Ether is closely approaching the $1,000.00 price target that I had set earlier.

 

It has just hit $933.10!

 

I think it will hit $1,000.00 very quickly now in days if not within 24 hours. The money will attract to Ether like a magnet to ensure it hits this figure. I do expect a correction back to $800.00 - $900.00 range before trying again above $1,000.00 and then staying above it. 

 

However, this could just as easily go to $1,200.00 as is the madness in the Cryptocurrency arena.

Share this post


Link to post

$1500 is my target. As we discussed, ether has been unlongable since the move upwards. Hopefully a correction will allow more entries!

Share this post


Link to post

Ether is a trend followers dream!

 

Why? Firstly it is making new highs. Secondly it is targeting a different market within the cryptocurrency and blockchain space compared to Bitcoin. Smart contracts on the Ethereum blockchain are being developed. 

 

However, the price action is extremely positive and bullish. It is heading higher against the US Dollar. There are two important trend lines forming with support at around $990.00 and $770.00 levels on the 4 hour chart. I must admit I do prefer the 4 hour chart but that is my personal preference and I appreciate that others will favour different time horizon charts. 

 

At the time of writing Ether hit $1106.00 If you look at the MACD then it is firmly placed in the bullish zone. The 4 hour RSI is moving higher as I write towards what could be overbought levels. Looking at the chart from me the key support level is around $990.00. I think there will be resistance around the $1106 levels.

 

The market cap is above $100 billion. Apparently transaction volume on the Ethereum network has doubled according to reports and surpassing 10 transactions per second for days at a time. 

 

I think $1500.00 is a serious target for Ether possibly even $2000.00 over a longer time frame. I think the key for me is that Ether stays above $1000.00 level. If it can achieve that then 2018 offers great potential. 

Share this post


Link to post

When this thread began and we first discussed around the end of Dec price was around $700 and gave opportunities to buy long. Now as price is pushing higher ether is unlongable. I can see from the client sentiment that people are selling but I believe the price will increase as more people invest in ether and people will also invest because the price is going up.

 

Trendfollower I like your views on support levels and it is very clear to see what you are looking at. I reckon that the next profit taking will be at $1200 but will be short lived as more people jump on this trend. Depending on the pullback I agree I may have to revise my target and move my target to $2000 but $1500 looks like a definite target now.

 

For any traders reading this thread, ethers chart is a great trend following chart and is moving now. It is making higher highs with higher lows so buying a position with a stop loss below the highest low is a good trade to take with a defined risk.

Share this post


Link to post

Good evening all. Could anyone explain why I cannot currently delete open btc orders. My deposit is getting too high for my liking. It’s a shame to have to always keep open orders “on tap” because all ctyptos are Unlongable most of the time.

Share this post


Link to post

The client sentiment is just for customers on IG who have a position in Ether. The majority of IG customers may not have a position in Ether. Also this sentiment does not represent what really may be happening. It is the physical purchase of Ether and physical sale of Ether that moves the price in either direction. Ether is showing similar traits to the Bitcoin moves in the past. It is moving so quick that it is likely to hit levels that were simply not expected so soon. The chart currently for Ether blows the likes of Bitcoin Cash out of the water.

 

Ether is up around 25% at time of writing. Yes I know folks it is around 5:00 am but such is the dedication I have. I think $1500 in 2018 now seems conservative and $2000 seems like a more likely destination. However remember this is crypto mania and in the crypto universe this could easily hit something like $5000 by the end of 2018. We are only on 8th January 2018.

 

When I started this thread as the title suggests the price was $756.00. It has nearly doubled in such a short space of time. Opportunities of such large profits in cryptocurrencies and blockchain occur once in someones lifetime. Even if it is the biggest bubble ever, embrace it, maximise your profit and just make sure you exit before the carnage. In my opinion the bigger the bubble, the bigger the profits.

Share this post


Link to post

This latest rally in Ether seems to have arisen from the South Korean market and its leading cryptocurrency exchanges such as the likes of Korbit, Bithumb and Coinone.

 

It is reported that the price of Ether went past $1800 within the South Korean market which was around $500 premium over the average price across the world.

Share this post


Link to post

Ether hit $1389.00 and there is now clearly strong momentum. No doubt the media will be reporting on Ether's rise and how it is outperforming Bitcoin, etc.

 

At this rate this will go past $2000.00 and be looking towards $3000.00 if not a lot higher. If the same aggression and assertiveness is shown in Ether's price action then this could go higher than what anyone is expecting. Bitcoin is a prime example of how something went from around $1000.00 to around $19000 within 12 months. 

 

I mentioned $5000.00 in an earlier post but if the same speculative money moves from the likes of Ripple and other alt coins as well as from Bitcoin then Ether could be on its way to experiencing a monster move upwards.

Share this post


Link to post

Ether is currently trading below its 20 day moving average. However it is still trading above its 50 and 100 day moving averages. Tomorrow will be interesting. 

 

 

Share this post


Link to post

You are on the right track, the fundamentals are important but the simple TA on a daily basis is more so. With MA's, support and resistance levels, Fibs, trendlines and channel lines will all come together to make a chart you can read 

Share this post


Link to post

I think Ether has performed admirably during all the media shenanigans in relation to the ban in South Korea. For me this demonstrated that the holders of Ether are not selling. This is very encouraging.

 

It seems that buyers started buying in at around the 38.2 percent Fibonacci retracement levels during the latest rally from around $600.00 to $1300 levels. For me the long term trend is strong and the time of writing I get the impression by looking at the charts that Ether is looking to make new highs and certainly test the previous high. If it does then it could mean the start of the next leg up. 

 

I really do see Ether trying to hit $2,000.00 in 2018.

Share this post


Link to post

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      6,564
    • Total Posts
      29,468
    • Total Members
      39,016
    Newest Member
    Jamespound
    Joined 21/04/19 08:07
  • Posts

    • Looking at Lumber then it seems to me that it needs to hold the $30000 level. If it can defend and hold that then there could be further upside this year. If not then it could begin going down into the late $20000's. This is a personal assumption which now will need to be tested based on current price behaviour.  In my opinion, for any trend followers who are short, they must hold (even if they do not add to their positions on further price declines) until there is a clear trend reversal. This should execute their stop loss / trailing stop. In my opinion, for any trend followers who are waiting on the sidelines that do not want to short, then they must wait patiently until there is a clear trend reversal signalling / indicating a trend reversal to warrant a long trade initiation. 
    • One thing to remember is that Platinum is trading at a cheaper price than Gold. Gold and Silver have left Platinum behind since the rally started back in August of last year. It seems Platinum has had enough and wants to begin to assert some authority on the price action.  Platinum of course has several important industrial uses. I think Platinum will try and hit the $1000 dollar area as that is an important psychological price point and these rallies love nice round numbers as a target. This is seen time and time again in Commodities. Platinum is both an industrial metal and a precious metal.  Platinum is also known at the 'Rich Man's Gold'. This could lead to a reversal in pricing between Platinum and Gold. Platinum should be more expensive than Gold and so there could be a shift in speculative capital from Gold into Platinum. Platinum could attract extra volatility as Gold and Silver are more liquid markets.  I do not know what will happen in the future for Platinum prices but I shall follow the price action closely. Platinum will not follow any of my thoughts or assumptions as to what I think may happen. Platinum is not obliged to follow any of my trading strategies or plans. Platinum may not follow the path I have mapped out in my mind and nor does it have to. Platinum will do what it will do just like any other Commodity. As a trader the key is whether I can profit from the price action or not. Prices can change like the weather and so can traders views and opinions. I know from my experience that on many occasions the price action changes my views and opinions. There is absolutely nothing wrong with that. If this did not happen due to stubbornness, ego or I know best attitude then it would be worth worrying about. 
    • Bitcoin is trying to break out when looking at the 'daily'. It will be interesting if it can and if it does then whether the other 'alt coins' follow.
    • Both Gold and Silver are still following my road map however both have hit an interesting juncture, which could prove to be an early turning point.  I am still favouring the Fib 50% for Gold, a long term reliable Fib level for this market (however it does not occur at a strong price action support level this time so a further deeper retrace could be on the cards) and if that happens then Silver retesting the long term supporting trend line is also on the cards. So much for that, what about the case for the current levels? Gold: Complex form retrace (EWT) completed (that is an A-B-C with internal A-B-C forms on each leg) Pos Mom Divergence at the current price point on Daily and 4 Hourly charts RSI and Stochastic both over sold Credible 1-5 wave down to current price point Bounce off the Fib 38% and associated support zone  Potential Triangle breakout and retest then rally away on 4 Hourly chart Similar on Silver, although perhaps less compelling.  I might expect a further drop on Silver with Gold holding or rallying slowly.  I am Long Gold at the Fib 38% with tight stops just below the turning point for a very low exposure trade.  For me this was worth the small loss if Gold carries on down but there may be another chance to get Long on a near term EWT 1-2.  And maybe Platinum is showing the way...  
    • GBPUSD also still following my road map.  First chance for a rally for me is the Fib 62% zone where the previous channel breakout occurred and a previous retest failed.  Chance for a test of strong support at Fib 6/78% cannot be ruled out and this pair is spiky so could easily occur.  All aligned to directional price action on EUR and AUD as well.
  • Our picks

    • Could the price of pork increase by 78% in China by 2020? - EMEA Brief 18 Apr
      The African swine fever disease has reached Southeast Asia and parts of Europe, including the world’s biggest producer of Pork, China. A prediction from the Japanese bank Nomura, is that this could cause prices to rise by 78% in China by 2020, to 33 yuan per kilogram from 18.5 yuan

      Global PMIs come into focus today, with eurozone and US figures released in the wake of a poorer Japanese number this morning. Pinterest has priced its IPO at $19 per share, above the previously indicated range but still lower than in private funding rounds two years ago.
      • 1 reply
×
×