VOT Research Desk

As it hovers below the 50-level, the Relative Strength Index reveals that the momentum is primarily bearish.

The view described above will become even more positive if there is one more rejection at this barrier.

However, there are times when the price of Ethereum may break through the triangle to the upside in order to collect the buy-stop liquidity that is sitting above the two separate lower lows. This action, known as a fakeout, may catch impatient traders on the wrong side.

Investors should be wary of a protracted fakeout even though the price of Ethereum is trending upward. It might lead to an upward momentum buildup, which would enable buyers to take control, if sellers do not seize the initiative and drive ETH lower.

If the price of Ethereum achieves a four-hour candlestick close over $1,340 in this scenario, the negative thesis for the smart contract token will be refuted. Such a development would provide ETH more room to grow and would allow it to close the Fair Value Gap inefficiency and reach the $1,383 mark.

Oct 24, 2022

VOT Research Desk

The price of Ethereum was able to rise back over the $1,280 support level and begin a 9.49% run-up over the previous three days. However, this action reversed after collecting the buy-stop liquidity lying at $1,343.If there is a retreat.

ETH may go back to the $1,220 support level to finish the triple tap setup that was covered in an earlier post.

For sidelined buyers, this scenario represents a bullish retracement and a chance to acquire undervalued ETH.

However, a rebound from this point might drive the price of Ethereum up to $1,440.

Even though the Ethereum price is trending upward, the bullish thesis will be disproved.

If a daily candlestick closes below $1,220 without any indication of a rebound.

This change may further drive ETH below the $1,080 support level.

Oct 17, 2022

VOT Research Desk

Since over a month, the price of Ethereum has been constrained between the $1,440 resistance level and the $1,280 support level, with no signs of a breakout in sight.

Investors should anticipate ETH to follow suit and re-visit the psychological $1,400 level if Bitcoin price recovers higher to establish Monday’s range.Without the support of the Bitcoin price, it is doubtful that the aforementioned level will change into a support level.

If it happens, Ethereum’s price may surpass the $1,559 barrier.

Although a rise in the price of Ethereum is anticipated, it cannot happen if the price of Bitcoin keeps falling.

The bullish thesis for ETH will be refuted by a collapse of the $1,280 support level, which may also lead to a sell-off to $1,200 and, in extreme circumstances, $1,080.

Oct, 12 2022

VOT Research Desk

Like Bitcoin, the price of Ethereum has also formed a bear flag pattern. This technical structure, which was covered in a previous post, indicates a 15% down to $1,100.

However, the $1,280 support level has to be broken by ETH bears. The price of Ethereum will drop to $1,100 if the aforementioned barrier is breached, which will mark the beginning of a decline.

If the negative momentum is strong, ETH may continue to decline until it retests the psychological barrier of $1,000 and even dips into the triple digits.

A daily candlestick close over $1,338 would result in a higher high and invalidate the negative thesis, on the other hand, if the price of Ethereum moves in the opposite direction.

ETH may retest the $1,450 barrier in response to such an event.

Oct, 11 2022

VOT Research Desk

Final confirmation of a symmetrical triangle pattern breakout described on Sunday came from the second-largest crypto currency.

Despite the fact that symmetrical triangles are neutral in terms of bullish or bearish bias, traders can open short positions when the price breaches the lower trend line, as is the situation with the price of ETH as seen on the chart below. Given the triangular breakout, a 12% breakout to $1,142 is predicted if sellers follow the call to unload their inventory.

The bears’ increasing hold is strengthened by the DMI (Directional Movement Index). If the -DI keeps widening the gap above the +DI, pressure will keep building on the price of ethereum.

It’s possible that 1.22 million addresses will prevent the price of Ethereum from rising beyond $1,300. 8.38 million ETH tokens worth between $1,327 and $1,366 are stored at these addresses.

Investors who sell at different breakeven points may temper the rise, which might ultimately result in the decline to $1,142 that was stated before.

Oct 10, 2022

VOT Research Desk

Holders’ patience has been put to the strain as the price of Ethereum has been stuck between $1,280 and $1,423. Bulls were given the signal to take control and start a rapid run-up after the recent sweep of the equal lows at $1,315.

However, the purchasers have made the decision not to move further. As a result, the price of Ethereum is continuing to trade over $1,315.

Investors should prepare for volatility, which may ultimately help bulls push ETH to $1,383 and, in certain circumstances, the $1,423 barrier.

Despite the positive prognosis, if the price of Ethereum fails to maintain above the $1,282 barrier, it will show a lacklustre upward momentum. This event will undermine the price of XRP’s bullish thesis and might lead to a fall to $1,191 thru $1,234.