Ethereum (ETH) trading cryptocurrency market update for Apr 18, 2019

Apr 19, 2019 --- Blog

Ethereum (ETH) trading cryptocurrency market update for Apr 18, 2019

Daily Chart

Ethereum v’s Bitcoin is bouncing off of the 0.032 level today on encouraging price action that has turned SCMR blue on a bullish candle formation that is improving short-term market structure and increasing the likelihood of a double bottom, all of which bodes well for the bulls over the coming days. Also note that momentum is turning higher and the volume indications are getting better, so a move up to the 0.034 area is likely in the near future, although all of the shorter-term moving averages continue to fall, strong dynamic resistance is still building overhead, and the Ichimoku Cloud has flipped to bearish out in front of the market, so we think a move up will simply be a relief rally within a larger consolidation.

Short term Members ProTrade - We will stay in the small LONG position off of the 0.0315 level with a stop around 0.0xx, an initial target of 0.0xx, and a secondary target of 0.0395.

  • ENTERED @ 0.0315

Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.0xxx - 0.0xxx with a stop just below 0.0xxx and a target of 0.0xxx.

Long term Members ProTrade - We will consider a LONG position on a move down to the 0.0xx - 0.0xx area with a stop around 0.00xx and a target of 0.xx.

 

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