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Weekly forecast Ethereum technical chart
Symbol ETHUSD
Trade Setup

#ETHUSD
Total Profit: -1243190 point (-410%)
Closed trade(s): 0 point Profit
Open trade(s): -1243190 point Profit

Trade Setup:
We opened 10 BUY trades @ 3006.62 based on 'Hammer' entry method at 2022-04-25.

Open Profit:
Profit for one BUY trade is 1763.43(current price) - 3006.62(open price) = -124319 point (-41%)
10 trade(s) still open, therefore total profit for open trade(s) is -124319 (-41%) x 10 = -1243190 point (-410%)

#ETHUSD
Total Loss: 1480730 point (490%)
Closed trade(s): 1480730 point Loss

Trade Setup:
We opened 10 BUY trades @ 3006.62 based on 'Hammer' entry method at 2022-04-25.

Closed Loss:
SL @ 1525.89 touched at 2022-06-11 with 1480730 point Loss. (490%)
Loss for one BUY trade is 3006.62(open price) - 1525.89(close price) = 148073 point (49%)
Therefore total loss for trades is 148073 (49%) x 10 = 1480730 point (490%)

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 4, 2022 - 12:34
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1703.00, beginning of uptrend is expected.
  • We make sure when the resistance at 3580.00 breaks.
  • If the support at 1703.00 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 1800 on 2022-05-12 and the trough at 1640.1913755656 on 2022-06-09, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 2016.45 on 05/31/2022, so more losses minimum to Major Support (1703.00) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 36.

Take Profits:

  1. 3180.00
  2. 3400.00
  3. 3580.00
  4. 3833.83
  5. 4126.54
  6. 4493.30
  7. 4868.00
  8. 5500.00
  9. 6000.00
Click on the level to view price action history.

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