Where Will Ethereum Go From Here? Ethereum Technical Analysis! Ethereum Price Rocketed From $92 To $145 In Six Days, Over 57% Gains!
Here is a quick technical analysis for the price movement of Ethereum from May 16th - May 21st 2017. I am posting this to share with everyone my quick technical analysis on Ethereum. Please feel free to leave a comment or any questions you might have. Thanks in advance.
The price of Ethereum popped like a rocket on May 17th after it failed to break above $100 on May 5th. It consolidated for about 11 days from its May 5th high and took a nosedive of 20% dropped to bounced off its major support at $80 set on May 9th. From May 10th to May 17th, Ethereum consolidated on a price channel of between $92 -$88.
On May 17th, Etereum started to rise with heavy volume. It moved from $90 to near $130 in less than 3 days and failed to break above $130, an amazing 44% gain. Just when everyone thinks it moved way too fast and expecting a major correction, Ethereum took a two day rest right under the $130 level and resumed the price rocket afterburner!
Ethereum rocketed again on May 21 (today) from $120 all the way above $145 with convincing volume! That is another 21% gains in just one day, and today is not over yet. Looks like Ethereum is forming another bullish ascending triangle which is a bullish continuation pattern. 
So where will Ethereum go from here? I heard there is a huge Crypto conference starting tomorrow and Ethereum is the hot topic for all the investors! I am more of a technical trader so let's just stick with the charts for now. I predict the second ascending triangle will continue to shoot higher before it consolidates again. The relative strength index is turning higher, volumes are increasing on up days. Maybe if Ethereum does consolidate in the next few days, it might be a good entry point for the longer term investors?
Let me know what you think! Please give constructive comments for my analysis! Much appreciated! Happy trading! And "go go Ethereum!"
Please follow & upvote please! Have a wonderful day!
We are looking for an interm 1.10 relationship from BTC to ETH
For Best Results: Re Steem,Follow,Upvote and Comment!
Not sure what you are looking for. I assumed you want me to follow you?
haa looking for! I said eth is gonnga go to 1/10 BTC and look its up to 188 today, almost there
oh thanks for clarifying. I think ETH Will trade above Bitcoin this time next year! lol Please resteem and get the words out! Have a wonderful day!
I dont ever see that happening, but good luck with that dream. Ethereum isnt a robust money currency. Doesnt matter if its market cap breaches bitcoin. Bitcoin offers more value as a money. Ill watch my bitcoin vastly outpace ETH...Long term
look at the trading volume on Ethereum vs Bitcoin now! Ethereum is a technology network, the infrastructure is being massively build right now. Ethereum can do what bitcoin does, but bitcoin can't do much as of what Ethereum can do. https://steemit.com/bitcoin/@dragonsteem/are-people-buying-bitcoin-so-they-can-transfer-them-to-exchanges-for-ethereum-and-ripple-part-ii
Disagree. But hey! We all use different forms of analysis. Good luck to you! HODL!!!!!! hahah
Thank you for sharing good information
Thank you. Please resteem and or follow to spread the words. Have a good day!
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