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- The arrival of Constantinople is delayed due to security breaches.
- Any short-term increases seem to positively evaluate the news.
- Very powerful ascending structures are suggested.
As if we were on a permanent "Day of the Marmot", today we are approaching the same levels that we have been intermittently attending since mid-December. Monday's "Bump" failed to guarantee the advances and yesterday returned to the first available support.
This is what it seems, but looking closely at the indicators we can see that today can be a special day. Today is a day in which the market has before it an optimal scenario for a new bullish start, although equally optimal to cancel the advances and withdraw in search of a new zone of accumulation quite deep in the price scale so that offer is sold out.
The Ethereum development community announced in the early morning in Constantinople that the expected update of the Ethereum network in the identification of vulnerabilities was delayed. As we read in the Ethereum.org blog:
As a precaution, the main stakeholders in the Ethereum community have determined that the best course of action will be to delay the planned fork of Constantinople that would have occurred at the 7,080,000 block on January 16, 2019.
This will require anyone running a node (node operators, exchanges, miners, portfolio services, etc.). You are upgrading to a new version of Geth or Parity before blocking 7.080.000. The 7.080.000 block will occur in approximately 32 hours from the time of this publication or approximately at 16:00, January 16, January 16, 11:00 pm ET / January 17, 4:00 GMT on January 16th.
ETH / BTC daily chart
ETH / BTC, one of the main market mood indicators, continues its uptrend, while playing with lower limits. It is a fragile situation, but for now the current trend resists. The level to watch is 0.0325 BTC per ETH. Below this level, the Ethereum would lose its control against Bitcoin and see a significant capital shift in Bitcoin.
The MACD in the 4-hour interval shows how the fast line attempts to bounce upward after touching the slow average. It is a convincing short-term structure, although it is usually the beginning of divergent movements.
The DMI in the 4-hour range shows that bears lose strength while bulls take a strong bullish bent. The structure guarantees short-term gains.
ETH / USD 240 Minute Chart
The ETH / USD in the 4-hour range shows a structure identical to the one just analyzed in the BTC / USD pair. For Ethereum the first resistance level is $ 127.9 (SMA200). The simple average of 200 periods shows an exceptional upside tilt. The second level of resistance is at $ 130 (resistance to price congestion and EMA50). Finally, the third resistance level is at $ 142 (resistance to price congestion and SMA100).
Below the current price, the first support for ETH / USD is $ 120 (support for price congestion). The second level of support is at $ 115 (support for price congestion). The third level of support is at $ 110 (support for price congestion).
The MACD on the 4-hour chart shows a bullish profile after the fast average has tested the slow average level. It is a powerful bullish structure that, over time, tends to end up in divergent structures.
The 4-hour DMI chart shows the most advanced structure among the Top 3 of the crypto-board. Bears and bulls move at the same level of trend strength and as resolved they will give us clues as to what could happen in the cases of Bitcoin or Ethereum.
