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Note : This post is only look at technical chart perspective

Daily Chart

ETH/BTC daily chart
ETH/BTC Daily Chart. Data source:CEX.io

The ETH/BTC market is still laboring to recover and now contesting the November 2016 zone.

ETH/BTC daily chart
ETH/BTC Daily Chart. Data source:Poloniex

There were few sharp dumps in the year 2016 based on the above daily chart. ETH price dragged down to new base price in the start of the year before rebound tagging on the BTC rally.

Noteworthy ETH/BTC Price Levels,


Year High 0.01263 January 12 2017
Year Low 0.007823 January 2 2017
data source:CEX.io

ETH/BTC Weekly Volume for the last 12 months. Data source:cryptocompare
ETH/BTC Weekly Volume for the last 12 months. Data source:cryptocompare.

Volume is still lackluster yet we saw steady growing hoarding activities in some exchanges namely Poloniex and Hit BTC.

ETH/BTC 15-minutes Chart
ETH/BTC 15-minutes Chart. Data source:Poloniex

The price was steady up, pulled back out of double bottom from two layers on the 15min time chart. The condense of the consolidation channel is getting narrower. Therefore, a sharp breakaway is just matter of time.

Some Critical Price Levels for the Immediate Term


Important Resistance Levels


0.01153470
0.0111695

Crucial Support Levels


0.01126180 – immediate support level
0.01114450
0.01095900

Trading Idea


I looking for further breakout from the channel. So, we could look at another few days for visible trend.

BTC Exchanges With Ethereum ETH/USD Trading


Yobit
Hit BTC
CEX.io
Livecoin
Simple FX
Poloniex
Kraken


These exhanges are part of my main trading platform. And please beware that trading cryptocurrency is very high risk in nature. So, trade only after thorough analaysis.

Some Exchanges Dealing On Bitcoin Withdrawal and Deposit Only.
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CEX.io, Buy/sell and trade bitcoins.
Changelly Plus Other Cryptocurrencies.


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Please let us know what your thoughts on this latest cryptocurrency sensation and update us if you have any insights in the comment section below.

Chart via tradingview, data source from Poloniex and CEX.io.

The author is a self-described cryptocurrency activist. Ironically, he is not involved directly on the development and mining. But a keen trader that specifically studying and analyzing the chart and prices based on zen principles of candlesticks price action techniques. And most importantly, he is always prone to deceiving price movements that can exposes to trading losses. So trading based on his personal opinions is extremely risky and not advisable.



Please do your own due diligence before making any investment decision. This article should not serve as investment advice. This post is mainly as reference and tutorial for trading on possible cryptocurrency breakout.

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