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Message: [QUOTE="Resolve, post: 202507, member: 29339"] [B][SIZE=5]ETHUSD and LTCUSD Technical Analysis – 09th DEC, 2021[/SIZE][/B] [img]https://i.postimg.cc/ydYBwY8W/3d.jpg[/img] [B][SIZE=5]ETHUSD: Ascending Channel Pattern Above $4,000[/SIZE][/B] Ethereum continues its consolidation phase remaining above the $,4300 handle in the European trading session today. ETHUSD is slowly preparing itself for its next move against the US dollar. The price continues to recover from its decline below the $4,000 level. We can clearly see an ascending channel pattern above $4,000 which signifies that the price will continue to rise aiming upwards of $4,500 to $4,700. ETH is now trading just above its pivot level of $4,374 and moving in a bullish ascending channel. The price of ETHUSD is about to break its classic resistance level of $4,418, its Fibonacci resistance level $4,403, and is now aiming towards the $4,500 handle in the US trading session. All the major technical indicators are giving a NEUTRAL signal. ETH is now trading above its 100 hourly and 200 hourly simple moving averages. [LIST] [*] Ethereum continues a bullish channel [*] Short-term range appears to be bullish ETHUSD [*] All the moving averages are giving a STRONG BUY signal [*] Average true range is indicating LESSER market volatility [/LIST] [B][SIZE=3]Ether: Bullish Trend Towards $4,700 Confirmed[/SIZE][/B] [img]https://i.postimg.cc/rsDTwnWk/4d.png[/img] In today’s early Asian trading session today, ETHUSD continues to move in a consolidation channel after touching an intraday high of $4,479 and an intraday low of $4,345 in the European trading session. Today’s relative strength index is NEUTRAL which signifies a potential bullish trend. It is best to enter into long positions in Ethereum at the present market level of $4,380 with a target of $5,000 for the next month. The average true range is indicating a lower market volatility as we can see a drop of 11.76 in the trading volume as compared to yesterday. This is because the market was in a consolidation phase and the buyers were waiting for a bullish pattern, which is clearly visible now. ETH has gained +0.55% with a price change of +23.84$ in the past 24hrs, and has a trading volume of 18.912 billion USD. [B][SIZE=3]Bitcoin vs Ethereum Gains in 2021[/SIZE][/B] [img]https://i.postimg.cc/1tCPPh8B/5d.png[/img] The gains observed in Ethereum have been outstanding as compared to bitcoin during the same period of time. This is because Ether’s underlying technology is far superior to bitcoin’s, which only serves as a mode of payment transfer and Investments. The demand for Ethereum is currently stronger due to its leading role in the emerging industry of decentralized finance (DeFi), as well as non-fungible tokens (NFTs). [SIZE=3][B]The Week Ahead[/B][/SIZE] Ether is printing above $4,300 today, and this week, we could see a levels of $4,500. The medium to long-term outlook for Ether remains bullish with targets of above $5,000 the next month. We have observed an $10 billion increase in Ethereum’s market cap which currently stands at $520 billion. We have detected an MA50 crossover pattern which signifies a bullish trend in the coming days. A mullish crossover pattern is also seen in the MA20. [B]Technical Indicators:[/B] Ultimate oscillator: at 49.448 indicating a NEUTRAL market Moving averages convergence divergence (14-day): at 6.88 indicating a BUY MA200 (exponential): at 4298.74 indicating a BUY Rate of price change: at 0.403 indicating a BUY [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]

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