On my 4 hour chart, it’s broken the trend line. It looks like a strong sell in the screenshot but that candle is still moving and is now looking pretty weak. But there’s a super strong support line between 0.0064 and 0.0062, it will really struggle to fall below that if my calculations are correct.
Moving up is met with a many resistance lines as well as many support lines so I don’t see it falling or rising drastically (unless there’s a drastic change eg news). I’ve only calculated up to 0.009
Where the green meets the red is my fake “enter the market” point. I’m testing my chart skills to see how accurate my calculations are. I might recalculate and move that enter point again.
It may be too early to say but as I write this, it looks like a small uptrend is forming.
Still in the channel, should test the resistance soon, hopefully we get a breakout above it, but if we are soundly rejected it’ll be another week or two in the channel.
Well my (very amateur) TA has proven to be quite accurate so far. I’ve tested a few small trades now with success.
Right now, on the 4hr chart, it looks like ETN is entering into a strong resistance/support area between 0.0074 and 0.0068 so it will probably hang around there for a bit. Once it breaks through that (in an upwards trend), the next resistance area will be between 0.0083 to 0.0086. It will probably move up through that one quite quickly (not as strong) and make its way to the 1 cent mark (green lines) where it looks like there are some strong Take Profit points.
All this could move up really quickly if there’s any announcements/news. I don’t see it moving down given the current support line, sentiment, latest news and anticipation.
Another thing I just noticed- Trading view isn’t showing the news on the chart for ETN. It does for every other chart, why not ETN? That tells me the latest ETN migration, amazing news etc is yet to reach the media.
Imo, once it does, we can chuck these charts out and start again because ETN will go through the roof
Well it’s temporarily dropped to what I’ve discovered to be another key level I just found at around 0.00678. It’s not support or resistance, just a line that the candles enjoy hanging around for a bit (like your favourite take away coffee place ).
I need to be more thorough with my TA. Live and learn.
EDIT: I think traders are gunning to move down to a couple of buying lines between 0.0065 and 0.064 to buy up but nothing on my chart indicates it’s heading that way. Unless I’ve missed something.
EDIT 2: obviously missed something because I got it wrong today. I guess traders won. Goes to show you shouldn’t listen to amateurs like me still I’m not doing too bad with TA in small trades with other tokens. But I guess that’s not hard in a bull market. I’ll keep studying the charts.
EDIT 3: Can someone please post, I can’t post anymore so have to edit to write more here.
Sharing an observation- seems like there’s a crypto attempted price suppression going on or something. The charts aren’t doing what they’re supposed to do. I’m seeing very clear, unambiguous bullish patterns on the charts and it’s going the opposite way. I’ve noticed much more experienced traders are spotting the same patterns so it’s not my inexperience.
It’s happening on nearly all the charts, including BTC. another pattern emerging is a deep drop straight after a bullish pattern, followed by the trajectory the bullish pattern should have taken. This makes me wonder if big money push the price down to they can make more on the ride up? Don’t know, just thought I’d give you a heads up. Even the ETN chart is acting weird.
Maybe it’s the lead up to the halvening (nobody calls it that anymore, I know, I know )??
Small TA update:
Looking at the 4hr chart, we broke the downtrend of the last few days and looking very stable right now. Strong resistance at around 0.0069 but with a bit of media attention and new exchanges, I’m sure we’ll slice right through that resistance. Some good key levels in between to stop it plummeting down to the bottom at around 0.0056.
This was a quick TA and no Fibs which would definitely tell me more.
I’ve been obsessively studying this stuff and my brain is fuzzy but hopefully I’ll get better at it and will be able to offer more detailed analysis moving forward.
Please if you see anything else in the chart, point it out:
Here’s my TA update: ETN will moon soon haha. In all seriousness, it really is heading in the right direction and it’s just the beginning of this new beginning. I’ve burnt myself out trying to learn how to TA and need a break
I did see the .0075 coming on my chart before we broke the .0069 resistance but didn’t want to jump the gun on here so I sat and watched.
Be great to hear more details from other people’s TA
Pretty little bull pendant forming on the one minute chart in Gateio. If it follows through, it should move up to about .0073. No guarantees though
Let gooo
UPDATE: Looks like it failed to follow through. Still, it won’t take much to get there.
My trader friend did an analysis on etn and predicts a drop to .0026
sounds about right barring any new announcements of significance
really sucks the new exchanges didn’t help but its highlighted a problem to be fixed anyway. ETN has a stigma from 7 years to over come and that will take time. Its basically a new project but no one knows that yet.
Anyway its the corporate partnership that will kick it off but for now I am just watching. If it drops back to .002 I will grab it again for the next pump
trade volume on gate 21k and coinstore 40k - thats a shame
I really wish we could leverage trade ETN. We’ll get there soon enough. Then volume will be decent.
I was just having a look at the ETN chart and looks very much like a Symmetrical Triangle. Should bust out in a couple of days and perfectly aligned with the halvening. Which direction we have to wait and see.
There’s also what looks like a bull pendant to me but I can’t call that as I’m not experienced enough (not sure if it’s null and void due to the flag pole wick anomaly). But if it is successful, it should hit 1 cent in a couple of days. Not much volume or news so maybe it won’t be successful. We’ll soon know.
Market is so erratic right now- seems like everyone is freaking out over the halvening and unsure which way to trade
).
still I’m not doing too bad with TA in small trades with other tokens. But I guess that’s not hard in a bull market. I’ll keep studying the charts.
but hopefully I’ll get better at it and will be able to offer more detailed analysis moving forward.
