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Ethereum: USD/ETH (ETH=) Set To Breach Key Resistance Against BTC As Golden Cross Forms


Ethereum: USD/ETH (ETH=) Set To Breach Key Resistance Against BTC As Golden Cross Forms

Two successful forks at the end of 2019, Istanbul and the Muir Glacier update on 2nd January and healthy market fundamentals is the best way for Ethereum to start the year. The second largest cryptocurrency currently trades at $134.68 USD, representing a 5% gain in the last 24 hours as the crypto market reawakened on the Iran-US conflicts. However, it’s against BTC that ETH shows much promise of a possible bull run in the next few days as a golden cross forms on the ETH/BTC pair.

ETH/BTC bulls targets 0.019200 as golden cross imminent

Looking at the higher timeframe charts, ETH/BTC is on the verge of a bullish reversal as a golden cross forms on the daily charts. Having bounced off 0.017300 minor support level on Christmas day, ETH/BTC bulls have gradually gained strength pushing the pair to 0.018230, as at time of writing. The 50 MA line and 200 MA line crossover is imminent signaling a continuation of the current mini uptrend.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 151.54.

The projected lower bound is: 125.57.

The projected closing price is: 138.55.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 84.0145. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 32 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.21. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 19 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 154.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 13 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed up 4.270 at 139.450. Volume was 41% below average (neutral) and Bollinger Bands were 55% narrower than normal.

Open     High      Low     Close     Volume___
138.180 139.920 134.040 139.450 33,337
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 132.35 141.91 191.10
Volatility: 50 58 77
Volume: 59,982 62,444 65,207

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


FOREX ETH= is currently 27.0% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of ETH= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 0 periods.

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