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Ethereum (ETHUSD) Daily MACD Trying to Positively Cross


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As seen on Bloomberg, Refinitiv (Thomson Reuters), Factset, Interactive Brokers, Amazon,Liquid (Quoine) and Zerohedge, Tradable Patterns (https://tradablepatterns.com) provides daily technical analysis on a subset of three CME/ICE futures (commodities, equity indices), spot FX markets, which it considers worth monitoring for the day/week for trend reversal or continuation, along with a separate weekly technical analysis newsletter on Bitcoin (BTCUSD), Ethereum (ETHUSD) and Ripple (XRPUSD or XRPJPY). For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

Ethereum (ETHUSD) continues firming as an increasing number of alt coins have outperformed Bitcoin (BTCUSD) in percentage gains in recent months, slowing conversion of ICO proceeds into fiat. Significantly, ETHUSD is USD 30-35 wide between the support and resistance lines of a triangle (on the daily chart), and appears to have another week or so before it'll test triangle resistance which coincides with the psychologically key whole figure of 150. The weekly and daily RSI and MACD are rallying or consolidating recent gains, offsetting the tiring Stochastics (in the same charts) somewhat. Longer term bulls will increasingly buying on dips as the sector overall gains interest from the coins being developed by leading messenger apps (i.e. Facebook/Whatsapp, Line, Kakao), banks (i.e. JP Morgan, Mizuho, Bank of Tokyo-Mitsubishi UFJ), the upcoming launch of BAKKT and Fidelity's institutional offering and increasing regulatory clarity and recognition for STO exchange operators/issuers. Specifically regarding the Ethereum blockchain, the recent fork positions it for greater scalability, better processing time for developers, and improved network economics. ETHUSD bulls are looking forward to further scalability improvements in the form of Proof of Stake and Sharding scheduled for 2019-2020.

Ethereum (ETHUSD) Weekly/Daily

ETHUSD (Ethereum) Weekly Technical Analysis

ETHUSD (Ethereum) Daily Technical Analysis

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Today's Top 3 Trades, Crypto Weekly Outlook and all other Tradable Patterns content do not constitute an advisory and do not make recommendations, but can supplement your own analysis. Please do your own due diligence ahead of any trades.



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About the author


Before the launch of Tradable Patterns , Darren Chu, CFA, served as IntercontinentalExchange | NYSE Liffe's country manager for Australia, India, and the UAE between July 2010 and January 2014, expanding his role to look after Liffe business development in APAC ex-Japan/Korea until his departure mid April 2014.  His primary remit was developing relationships with Liffe clients, prospects and partners in the buyside (traditional and alternative asset managers), proprietary trading (high frequency algo as well as manual, point and click traders), bank, broker (institutional and retail), commodity trader and ISV community.  Key futures and options promoted included European/London rate benchmarks such as the Euribor, Short Sterling, Gilts, London/European index futures including the FTSE and CAC, London soft commodities (Robusta Coffee, Cocoa, White Sugar), Paris (MATIF) markets (Milling Wheat, Rapeseed), and NYSE Liffe US markets with the MSCI EM, MSCI EAFE, gold/silver, Eurodollar, US Treasury and GCF Repo futures being the focus.

 

Previously, Darren was with the TMX Group | Montreal Exchange for 4 years, marketing Canadian futures and options across North America, London, Singapore and Hong Kong.  Darren also launched and managed CMC Markets Canada's Chinese marketing and sales team, along with educational offering.  On the academic trail, Darren has been a frequent guest speaker at Canadian universities as well as an author of content for 3 derivatives courses offered by Canadian Securities Institute and mandatory for licensing of Canadian derivatives industry professionals.

 

Darren can be reached at +65 8118 8840 or via email at darrenchu@tradablepatterns.com.

 

 

 

contributing author since 11/21/2017 

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