Crypto Ethereum (“ETH 2 is the game changer?”)

View On Ethereum ETH/USD (4 Jan 2021)

When the price of an instrument goes up, it can due to the two main reason.

(1) The buying power so strong until any strong selling pressure is absorbed, the price of it climbs.

(2) The buying power is not so strong but the selling power is even weaker, so the price of it climbs.


The reasons 1 and 2 are almost the same but the aftermath can be pretty different.
The price that climbed due to the Reason (1) can have lasting Bull market, while the price climbed due to the reason (2) can make turn back down when a relatively strong selling pressure kicks back in.


I expect the ETH price movement may be due to the reason (1), there shall be some pullback along the way but the trend is pretty much on the Bullish side.

850 and 650 region will be strong support while 970 and 1,000 will be strong resistant. (If you are risk aversed and do not want high DD, you may want to wait patiently at these levels)



DYODD, Our trade analysis may not suitable to intraday (or) short time frame trading.

Whatever method you use if you do not follow the proper rule of risk management, it will have detrimental effects on your account.
Feel Free to "Follow", press "LIKE" <or> "Comment".



Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.

DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Комментарий:

View On Ethereum ETH/USD (4 Jan 2021)

We are seeing strong momentum near 1,050~1,100 and it has trapped lot of FOMO traders. (In the above write up, i mentioned that 1K can be resisting)

Now we shall how the candle ends.

Комментарий:

Updated View On Ethereum ETH/USD (8 Jan 2021)


We had a parabolic rise on ETH and now the price get stalled $1,250-$1,300 region for now.

This parabolic move may not sustainable and it can bring about some pull back along the way, but the trend is "obviously" on the UP side.

$1,100 & $1,010 & 889 will be decent supports for now. If you are risk averse, you may want to wait it out first, before buying it in,