Ethereum with fresh buy signals, Fantom trying to bottom

Ethereum (ETH): Bull camp with new attack attempt

• Course (ETH): $2,860 (previous week: $2,575)
• Resistances/Goals: $2,885, $2,993, $3,140, ​​$3,250, $3,361, 3,408, $3,577, $3,752, $3,898, $4,043, $4,158, $4,339, $4,547, $4,719, $4,864, $5,5,073 $6,014, $7,027, $8,666, $11,318
• Supports: $2,733, $2,659, $2,571, $2,448, $2,305, $2,161, $2,044, $1,930, $1,725/$1,713, $1,545, $1,425

Ether price is attempting to rally back towards its selling highs after several weeks of weak trading. The mid-week recapture of USD 2,733 provided further impetus towards the EMA50 (orange). Ethereum is currently struggling with this sliding resistance. If Ethereum also overcomes this resistance at USD 2,885 at the daily closing price, a subsequent increase up to the multiple resistance at USD 2,993 is to be planned.

On the downside, the ether course now seems well secured with supports at USD 2,571 and USD 2,448. Only a relapse below these support levels would significantly increase the selling pressure again. The launch of the final testnet “Kiln” brings the switch to Proof-of-Stake within reach. This innovation could have a lasting positive effect on the Ether course.

Bullish Variant (Ethereum):

The bulls took heart in the last few trading days and maneuvered the ether price back above the resistance levels at USD 2,659 and USD 2,733. A bottoming out in the short term therefore seems increasingly likely. If Ethereum overcomes the EMA50 at the daily closing price and subsequently breaks out of the orange resistance zone to the north, a first directional decision is made in the USD 2,993 area. In addition to the 38 Fibonacci retracement, the super trend in the daily chart also runs here. In the first attempt, plan for a course bounce. If Ethereum dynamically breaks through this resist area in the coming trading days, a subsequent increase up to USD 3,140 is likely.

Here runs a strong sliding resistance with the EMA200 (blue). If Ethereum then also jumps above USD 3,140, ​​a renewed test of USD 3,255 is likely. In addition to the high of February 10, 2022, the 50 Fibonacci retracement can also be found here. Once again, it will be difficult for the bulls to immediately recapture this strong resist in their first attempt. If Bitcoin (BTC) also rises further north, Ethereum could also penetrate into the turquoise resist zone. The MA200 (green) and the “Golden Pocket” in the form of the 65 Fibonacci retracement run in the area of ​​USD 3,577.

More upside potential is unleashed

In order to sustainably break through this strong resistance area, the key crypto currency Bitcoin (BTC) must also form a new historical high above USD 46,000. If the entire crypto market continues to show its bullish side in the coming trading weeks, Ethereum should also target its next price target at USD 3,752. This price level is acting as a strong resistance on the way to USD 3,898. Renewed resistance from sellers is to be expected here. The bears have one last chance for another corrective move at this resistance. If the bull camp succeeds in sustainably breaking through this technical hurdle with strong buying momentum, price targets at USD 4,043 and USD 4,158 will come into focus again.

This zone acts as a target area for the coming months. Only when Ethereum recaptures this area sustainably, a march through to the 4,339 USD is conceivable. This means that the target price of USD 4,547 would be within reach again. If there is no significant profit-taking after reaching this price target, Ethereum could even rise to the overarching target range between USD 4,719 and the all-time high at USD 4,864 in the coming months. The $5,000 area continues to represent the maximum bullish target area for the coming months.

Bearish Variant (Ethereum)

While the bears remain in control, an immediate sell-off back towards USD 2,447 failed. Thus, the ether chart continues to make higher lows. To initiate another sell-off, Ethereum must first break back below $2,733. However, the horizontal supports at USD 2,659 and USD 2,578 must then also be broken.

Only a daily closing price below USD 2,578 increases the chance of a fall back towards the yellow support zone. If Ethereum hits the history low at $2,448 and breaks this support, the bears will have to do everything in their power to break through the green uptrend line. The support mark at USD 2,305 then moves back into the focus of investors. If ether price does not turn north at $2,305, the January 24, 2022 history low at $2,161 will act as the next key bearish correction target.

Back under $2,000?

If the seller succeeds in breaking through this support sustainably, an extension of the correction into the green support zone should be planned. Ethereum is likely to retrace to at least $2,044 but more likely to $1,930. If the bulls do not come back onto the floor at USD 1,930 either, a retest of the supports at USD 1,795 and USD 1,713 is conceivable in the future.

Here, the bulls should be there to stave off a dip below the summer 2021 low. Otherwise, the probability of a sell-off of up to USD 1,545 would increase significantly. In the medium term, Ethereum could correct towards USD 1,425. The maximum bearish price targets for the coming months are unchanged at USD 1,359 and USD 1,223. In this area at the latest, there should be clear resistance on the part of the buyers.

Indicators (Ethereum)

The RSI indicator has been able to recover significantly to the north in the last few trading days and is currently trying to break out of the upper edge of the neutral zone at 55. The RSI has thus generated a new buy signal. The MACD can also form a new buy signal this Friday. This development has changed little in the weekly chart so far. Furthermore, both indicators have active sell signals in a weekly comparison.

Fantom (FTM): Correction complete?

• Course (FTM): $1.24 (previous week: $1.18)
• Resistances/Goals: $1.40, $1.51, $1.75, $1.96/2.14, $2.38, $2.58, $3.00, $3.40, $4.70, 5 $.37, $7.09
• Supports: $1.04, $0.95, $0.81, $0.72, $0.57/$0.50, $0.42, $0.33

• FTM course after a massive sell-off with the first tendency to bottom out
• USD 1.40 as the first important chart technical hurdle.
• $0.95 as the key support level.

The Fantom price was able to rise back to its all-time high of USD 3.40 in January 2022 before the FTM price also sold off more significantly. At its peak, Fantom corrected 70 percentage points to the parent 38 Fibonacci retracement at $1.04. It was only here that the bulls took heart and initially stabilized the FTM rate just above the psychologically important USD 1.00 mark.

Bullish Variant (Fantom)

After a strong start to the year, Fantom’s price recently showed its bearish side. Although the buyer side was able to stop the sell-off at Fantom for the time being, as long as the FTM price does not recapture the blue resistance area at USD 1.50, a resumption of the correction movement must be expected at any time. For their part, it is imperative for the bulls to prevent Fantom from breaking below the key support at $0.95 as of the daily close. This would activate the double top scenario and activate targets significantly lower. If the buyer camp succeeds in lifting the FTM price back towards USD 1.40 in a timely manner, an initial directional decision can be expected. In addition to the tear-off edge, the EMA20 (red) can currently also be found here.

If Fantom rises back above this resistance level, the next relevant resist is already waiting with the supertrend at USD 1.50. This is where Fantom is likely to fail at the first attempt. Should Fantom be able to regain the blue resistance area in the future, a march through to the cross resistance at USD 1.75 should be planned. In addition to the 78 Fibonacci retracement, the EMA200 (blue) can also be found here. Only when this resist is overcome by the daily closing price could the FTM price gain further momentum and start in the range between USD 1.96 and USD 2.14. With the MA200 (green) at $1.96, the bulls are likely to struggle again.

The worst should be over.

If the overall market recovers in the coming trading months and Fantom breaks through the red resistance zone to the north, a march through to USD 2.38 is conceivable. A direct jump in price up to USD 2.58 is also possible. The chart image would also be brightened again. If the bulls succeed in stabilizing the FTM price above USD 2.58, the resistance at USD 3.00 will immediately come into the focus of investors. Investors are likely to want to take more profits here again. Should this psychologically important mark be recaptured in the long term, a retest of the all-time high at USD 3.40 is increasingly likely.

If the buyer side manages to generate new highs as a result, Fantom could target its projection targets in the second half of the year. Initially, a price increase in the zone between USD 4.70 and USD 5.37 should be planned. If there is no renewed sell-off in this zone, an increase to the maximum bullish target price of USD 7.09 can no longer be ruled out. This resistance level is derived from the 161 Fibonacci projection of the current trend movement. Investors can set up initial long positions in the range between USD 1.14 and USD 1.04, but should hedge them with a stop loss below USD 0.95.

Bearish Variant (Fantom)

The sell-side did a great job over the past six weeks of trading, sending Fantom significantly south. Although the FTM price bounced off the 38 Fibonacci retracement of the overriding trend movement to the north, as long as FTM is trading below USD 1.50, the bears will do everything possible to initiate a new selling movement. If Fantom slips below its historical low of USD 1.04 at the end of the day, a sell-off to the purple support zone is likely.

In particular, the upper edge of this zone at USD 0.95 should not be undercut by the daily closing price from the bulls’ point of view. However, if Fantom slides back below the historical low of September 21, 2021, the correction will momentarily extend to $0.81. Once again, the bulls must do everything possible to stabilize the FTM rate here. The area between USD 0.95 and USD 0.81 acted as a strong resistance area for a long time in 2021.

Sell-off threatens to expand

Abandoning this zone again increases the chance of a drastic expansion of the correction towards USD 0.72. If this price mark does not hold either, the area between USD 0.57 and USD 0.50 comes into view as the target area. Once again, the bulls can be expected to resist. Plan for a sustained reversal from this support area.

However, if the overall market continues to weaken in the coming months and Fantom slips back below USD 0.50, the probability of a correction expanding to USD 0.42 increases significantly. This price mark has already acted as resistance and support several times. At most, Fantom could fall back to the USD 0.33 mark in the coming months. In this area at the latest, the bulls will do everything they can to send the course clearly north again in order to prevent it from disappearing into insignificance.

Indicators (Fantom)

The RSI as well as the MACD indicator show active sell-signals, but the bulls are currently trying to generate a buy-signal in the daily chart. The MACD could form a long signal in the coming trading days.

Disclaimer: The price estimates presented on this page do not represent buy or sell recommendations. They are merely an assessment by the analyst.

The chart images were created using TradingView created.

USD/EUR exchange rate at the time of going to press: EUR 0.90.