Ethereum price GBP dipped below the support line of the triangle on June 12 but the bears could not capitalize on this breakdown. The ether gbp price rebounded off the support line and has reached the 20-day EMA. This suggests that bulls are buying on dips.

If buyers propel the eth to gbp price above the resistance line of the symmetrical triangle, it will suggest that the uncertainty has resolved in favour of the bulls. The pattern target of this breakout is £2,736.22.

Ethereum price GBP header

ETH TO GBP

ETH to GBP – HOW TO TRADE ETher GBP 15TH JUNE 2021 - UPDATED CONTENT

 

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum price GBP_chart

Therefore, we retain the buy recommendation given in the previous analysis.

Contrary to this assumption, if the eth price gbp price turns down from the resistance line, the ETH/GBP pair could extend its stay inside the triangle.

The trend will turn in favour of the bears if the pair turns down and plummets below the support line of the triangle. That could drag the price down to £1,474.60 and then to £1,216.19.

 

ETH to GBP – HOW TO TRADE ETher GBP 8TH JUNE 2021

 

 

Ethereum price GBP we had recommended traders to buy on a breakout and close above the 50-day simple moving average (SMA) but the trade did not trigger. ETH price GBP turned down from just below the 50-day SMA on June 4.

The bulls again tried to push the price above the 20-day EMA on June 5 and 7 but the long wick on the day’s candlestick suggests selling at higher levels. The bears will now try to sink the price below the support line of the triangle.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

ETH

If they succeed, the Ether GBP pair could drop to £1,474.60 and then to the May 23 low of £1,216.19. Conversely, if the eth price gbp rebounds off the support line of the triangle, it will suggest accumulation on dips.

A breakout and close above the triangle will suggest the downtrend could be over. Therefore, traders may buy on a breakout and close above the resistance line of the triangle.

 

 

ETH to GBP – HOW TO TRADE ETher GBP 1ST JUNE 2021

 

 

Ethereum price GBP broke above the 38.2% Fibonacci retracement level of £1,935.11 on May 26 but the bulls could not push the price above the 20-day EMA. However, the positive sign is that bulls continue to buy at higher levels. This has resulted in the formation of a symmetrical triangle pattern.

If buyers can propel the price above the triangle and the 50-day SMA, it will suggest the end of the downtrend. The ETH/GBP pair could then rally to the 61.8% retracement level at £2,379.25.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

This level may act as a stiff resistance but if the bulls do not allow the price to dip below the 20-day EMA, the pair could rise further to £2,695.43.

The 20-day EMA is flattening out and the RSI has risen above 47, indicating the bulls are trying to make a comeback. Traders may buy 50% of the usual allocation size on a breakout and close above the 50-day SMA.

This is a risky trade as the trend has not yet turned positive. Hence, risk-averse traders may wait for a better entry opportunity. The stop-loss for the trade can be kept below the support line of the triangle.

 

 

ETH to GBP – HOW TO TRADE ETher GBP 25TH MAY 2021

 

 

Ethereum price GBP bulls failed to sustain Ether above the 20-day EMA on May 18 could have attracted profit-booking by traders, resulting in the massive drop on May 19. The Ethereum to GBP bulls tried to stage a recovery on May 20 but hit a wall at the 50-day SMA.

Renewed selling pulled the price below the May 19 low of £1,382.24 but the positive sign is that this did not lead to panic selling among investors. The long tail on the May 23 candlestick suggests traders purchased the drop to £1,216.19.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

The strong recovery on May 20 indicates demand at lower levels. However, the bulls are likely to face stiff resistance at the moving averages. If the eth to gbp price turns down from this resistance, the bears will again try to break the £1,216.19 support. If the Eth price GBP pair rebounds off this support, a few days of range-bound action between £1,216.19 and £2,000 is possible. Traders may wait for the price to rebound off the £1,216.19 support to initiate long positions with the stops placed at £1,190. This trade should not be attempted when the price is falling because if the bears sink the pair below £1,216.19, the decline could extend to £1,000.

ETH to GBP – HOW TO TRADE ETher GBP 18TH MAY 2021

Ethereum price GBP we had pointed out in our previous analysis that Ether may be topping out and our assumption was proven right. Although the biggest altcoin rose above £3,000 on May 12, aggressive profit-booking dragged the price lower, forming a bearish engulfing pattern. The bulls again tried to resume the uptrend on May 14 but the up-move fizzled out at £2,965.68. The selling resumed on May 15 and pulled the eth price gbp pair below the 20-day EMA on May 17.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

ETH The 20-day EMA has flattened out and the RSI is near the midpoint, signaling a possible consolidation in the near term. This neutral view will invalidate if the price turns down and breaks below £2,200. If that happens, the pair may drop to the 50-day SMA. The farther the eth to gbp pair moves from the all-time high, the longer and harder it will become to resume the uptrend. We will wait for a bullish setup to form in the next few days before recommending a trade in it.

ethereum to gbp – HOW TO TRADE ETher GBP 11TH MAY 2021

Ethereum price GBP made a new all-time high of £2,984.73 on May 10 but the bulls could not sustain the higher levels. The Doji candlestick pattern on the day suggests the rally may be tiring out. If the bears pull the price below £2,560.80, the ETH/GBP pair could drop to the 20-day EMA. If the price rebounds off the 20-day EMA, it will suggest the sentiment remains bullish and traders are buying on dips to strong support levels.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

ETH The bulls will then attempt to resume the uptrend. A breakout and close above £3,000 could start the next leg of the uptrend that may reach £3,727.86. However, we give this a low probability of occurring. If the Ethereum price GBP dips below the 20-day EMA, it will suggest that traders are closing their positions in a hurry. That could increase the possibility of a decline to the 50-day SMA. We do not find any reliable buy setups at the current level.

ETH to GBP – HOW TO TRADE ETher GBP 4TH MAY 2021

Ethereum price GBP surprised us with its sharp up-move in the past few days. Momentum traders who had bought on our recommendation in the previous analysis could be sitting on huge profits within a short time. However, vertical rallies rarely sustain and they are usually followed by waterfall declines. Therefore, without getting too greedy, traders may book profits at the current levels or tighten the stops to lock in a large part of their paper gains.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETHereum

The sharp up-move of the Ethereum price pound chart in the past few days had pushed the RSI above 82, indicating the rally was overbought in the short term. However, when an asset is backed by momentum, it is difficult to call a top. If the bulls do not give up much ground from the current levels, the uptrend may continue. If the buyers drive the price above £2,500, the ETH/GBP pair could start the next leg of the uptrend that may reach £3,120. Conversely, a break below £2,137.25 may attract strong selling. The critical support on the downside is the 20-day EMA and a decisive break below could signal the start of a deeper correction.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 27TH APRIL 2021

Ethereum price GBP as we had projected that bulls will try to stall the decline between £1,456.18 and the trendline and that is what happened. The biggest altcoin rebounded off the £1,456.18 support on April 20. The momentum picked up and the bulls pushed the price to a new all-time high of £1,905.49 on April 22. However, the bulls could not sustain the breakout and the price slipped back below £1,850 on the same day.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETHereum

Both upsloping moving averages and the RSI in the positive territory suggest the bulls have the upper hand. If the buyers drive the price above the £1,850 to £1,905.49 resistance zone, the next leg of the uptrend could begin, which has a target objective at £2,130. However, we anticipate the bears to mount a stiff resistance in the overhead zone and try to pull the price down to the 20-day EMA. If the ETH/GBP pair rebounds off this support, the possibility of a break above £1,905.49 increases. On the other hand, if the bears sink the price below the 20-day EMA, the pair could drop to £1,456.18 and remain range-bound for a few days. The risk to reward ratio for a positional trade is not attractive at the current levels. Hence, we are not proposing any fresh trade in it. However, momentum traders may try to ride the move higher if the pair breaks and sustains above £1,905.49 for a few hours.

ethereum to gbp – HOW TO TRADE ETH/GBP 20TH APRIL 2021

We had projected a target of £1,872 for Ether and it rallied to £1,850 on April 16. Traders who had bought and sold on our recommendation made huge profits within a short time, both entering and exiting at the right time. Technical traders seem to have booked profits after Ether reached its target objective. Although aggressive bulls seem to have purchased the dip on April 18, they could not sustain the price above the 20-day EMA.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETHereum

This shows that traders are booking profits on rallies. The ETH/GBP pair has dropped to critical support at £1,456.18. If this support cracks, the next stop could be the trendline. The bulls will try to stall the decline between £1,456.18 and the trendline. The extent of the next rebound will give insight into how successful they have been. A weak rebound will indicate a lack of buyers and the bounce is likely to be sold into. If the trendline support gives way, the pair could extend its decline to £1,130. Conversely, a strong rebound off £1,456.18 could keep the pair range-bound for a few more days. The bulls will gain the upper hand on a break above £1,850. We do not find any reliable buy setups at the current level, hence we are not suggesting any trade in it.

ETH to GBP – HOW TO TRADE ETH/GBP 13TH APRIL 2021

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETHereum

Ethereum price GBP_ETH Ethereum price GBP plunged below £1,456.18 on April 7, but the bulls purchased the dip and the price rebounded on April 8. As the eth price gbp did not break below the 20-day EMA and also did not reach the breakout level of the triangle,the suggested stop-loss in the previous analysis may not have triggered. The ETH/GBP pair has continued to make new highs, but the up-move lacks momentum. This suggests hesitation among the bulls to buy aggressively at higher levels. If the momentum does not pick up within the next two days, it will increase the possibility of a correction. A break below £1,400 will be the first sign of weakness. The first stop on the downside could be the support line of the triangle. If this support cracks, the pair could extend the decline to £1,100. Conversely, if the pair picks up momentum, a rally to £1,872 is likely. Traders can watch the price action and book profits if the price does not rally above £1,600 in the next couple of days. Until then, the stops can be kept just below the 20-day EMA.

ethereum to gbp – HOW TO TRADE GBP to ETH 6TH APRIL 2021

Ethereum price gbp broke above the resistance line of the symmetrical triangle on March 31 and this triggered the buy recommendation given in the previous analysis. Traders who bought ether gbp on the suggestion are already profitable. The ethereum to gbp bulls continued their buying and propelled the eth price gbp to a new all-time high of £1,549.98 on April 2.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETHereum

The ethereum price pounds pair has been consolidating between £1,456.18 and £1,549.98 for the past three days. This shows that the bulls have flipped the previous resistance into support. If the bulls can push the Ethereum price gbp above £1,549.98, the next leg of the up-move could begin. This could carry the pair to £1,872, which is the pattern target of the breakout from the triangle. The rising 20-day EMA and the RSI in the positive territory suggest the bulls are in command. This positive view will invalidate if the price turns down from the current level and breaks below the 20-day EMA. Such a move will suggest aggressive selling at higher levels. That could then result in a fall to the support line of the triangle. Therefore, traders who have purchased on a break above the triangle can keep their stops at breakeven. This could be trailed higher if the ether gbp rises above £1,549.98. Traders who added their positions above £1,456.18 can keep the stops just below the 20-day EMA.

ETH to GBP – HOW TO TRADE GBP to ETH 30TH MARCH 2021

Ethereum price GBP has formed a symmetrical triangle, which generally acts as a continuation pattern and the breakout happens in the direction of the prevailing trend before the pattern was formed. In this case, as the trend was up before the formation of the pattern, we can expect the breakout on the upside. If that happens, the ETH price gbp could retest the all-time high at £1,456.18. A breakout and close above this resistance could result in a rally to the pattern target of £1,872.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

The flat moving averages and the RSI above 56 do not indicate a strong momentum in favour of the bulls. If the Ethereum price GBP turns down from the resistance line of the triangle, the pair may spend some more time inside the triangle. At times, the symmetrical triangle acts as a reversal pattern. Therefore, traders should wait for the price to either breakdown or break above the triangle before placing any positional trades. Aggressive traders may buy on a breakout and close above the triangle, but use 50% of the usual position size. The rest of the position could be added after the price breaks above £1,456.18.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 23RD MARCH 2021

Ethereum price GBP bulls held on to the 20-day EMA for the most part of last week, but Ether failed to rebound with strength, indicating a lack of follow-up buying at higher levels. The failure to move up could have attracted profit-booking from short-term traders.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

That dragged the Ethereum Price GBP below the 50-day SMA on March 22. If the bulls do not push the Ethereum Price GBP back above the moving averages quickly, the slide may continue and the ETH/GBP pair could drop to £1,100 and then £932.54. The 20-day EMA has started to turn down and the RSI has dipped into the negative territory, suggesting that the bears are attempting to gain the upper hand. This bearish view will invalidate if the pair turns up and breaks out of the all-time high. As the trend is turning in favour of the bears, we suggest traders wait for the decline to end and the Ethereum Price GBP to signal a bottom before jumping in to buy.

ETH GBP – HOW TO TRADE GBP to ETH 16TH MARCH 2021

We were expecting Ethereum price GBP to reach its all-time high at £1,456.18, but the bears had other plans. They stalled the rally at £1,391.98 on March 13. The price has again dipped back to the moving averages. The bulls will now try to defend the moving averages and if they succeed, the Ethereum price GBP pair may make one more attempt to rise above the all-time high. If they manage to do that, the pair could rally to £1,767.7 and then £1,968.87.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_Chart However, the flattening 20-day EMA and the RSI near the midpoint suggest the bulls are losing their grip. If the bears can sink the Ethereum price GBP below the 50-day SMA, the decline could extend to £1,100 and then £932.54. A strong bounce off the support levels could keep the Ethereum price GBP range-bound for a few days. We do not find any reliable buy setups, hence we are not recommending any trade in it.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 9TH MARCH 2021

Ethereum price GBP had a relief rally was setting up in Ether and that is how it has played out. After hesitating near the 20-day EMA between March 2 to 5, the bulls made a decisive breakout on March 6. The momentum picked up after the bulls sustained the price above the 20-day EMA. Now, the ETH/GBP pair could rally to the all-time high at £1,456.18. If the bulls can drive the price above this resistance, the next leg of the up-move could begin. The next target objective on the upside is £1,767.7 and then £1,968.87.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_Chart On the other hand, if the bears defend the £1,456.18 level, the Ethereum price GBP may consolidate for a few days and dip to the 20-day EMA. However, the 20-day EMA has turned up and the RSI is above 61, indicating the path of least resistance is to the upside. This bullish view will invalidate if the Ethereum price GBP turns down and slips below the moving averages. Such a move will point to a few days of range-bound action. The bears will gain the upper hand if the price slips below £932.54.

ETH to GBP – HOW TO TRADE GBP to ETH 2ND MARCH 2021

The Ethereum price GBP dropped to £932.54 on February 28, very close to our expected level of £900, as mentioned in the previous analysis. The long tail on the day’s candlestick suggests traders bought the dip aggressively. The bulls are currently attempting to propel the price above the moving averages. If they can push and sustain the price above the 20-day EMA, it will suggest the short-term decline may be over.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_Chart The bears may again mount a stiff resistance near £1,214, but if the bulls can clear this hurdle, the Ethereum price GBP may start its journey towards the all-time high at £1,456.18. However, the flat moving averages and the RSI just below the midpoint suggest a balance between supply and demand. If the Ethereum price GBP turns down from the current levels or £1,214, the pair may remain range-bound for a few days. The pair will get ready for a deeper decline if the bears can sink the price below the £900 support. Although a relief rally is possible, we do not find any reliable buy setups, hence we are not suggesting a trade in it.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 23RD FEBRUARY 2021

The Ethereum price GBP rallied to a new all-time high at £1,456.18 on February 20, which was just short of our target objective at £1,500. Momentum traders who had purchased as suggested in our previous analysis could have made a small profit or may have closed the position at breakeven. The Doji candlestick pattern on February 20 was followed by an inside day candlestick pattern on February 21. Both these candlestick patterns indicate indecision among the bulls and the bears.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

This uncertainty was resolved to the downside on February 22 and that resulted in aggressive profit-booking from traders. The Etherereum price GBP plummeted below the 20-day EMA and fell near the 50-day SMA. The bulls purchased the dip to the 50-day SMA and pushed the Etherereum price GBP back above the 20-day EMA as seen from the long tail on the candlestick. However, the failure of the bulls to build-up on the pullback today suggests the bears continue to sell on rallies. The bears will again try to sink the price below the 50-day SMA and the £1,052 support. If they succeed, a deeper decline to £900 and then to £800 is possible. On the contrary, if the bulls again successfully defend the 50-day SMA, it will suggest accumulation at lower levels. In such a case, the bulls will again try to resume the uptrend by pushing the price to a new all-time high. We do not find any reliable buy setups at the current level, hence we suggest traders remain on the sidelines.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 16TH FEBRUARY 2021

Ethereum Price GBP hit our target objective of £1,352 on February 13 and that could have allowed traders to book profits. The price corrected to the 20-day EMA on February 15, but the sharp rebound off this level suggests the bulls are buying on dips. The upsloping moving averages and the RSI in the positive territory suggest the bulls are in command. If the bulls can drive the price above £1,354.01, the uptrend may resume and rally to the next target objective at £1,500.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_ETH Contrary to this assumption, if the price turns down from the overhead resistance and breaks below the 20-day EMA, the Ethereum Price GBP could drop to the breakout level at £1,052. A strong rebound off this support will suggest that the sentiment remains positive and the bulls are buying on dips. Conversely, if the Ethereum Price GBP breaks and sustains below this support, it will suggest a possible change in trend. A short-term buying opportunity may arise for the momentum traders if the price sustains above £1,354.01 for a few hours.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 9TH FEBRUARY 2021

Ethereum price GBP traders who had purchased on the breakout of the ascending triangle on February 2, according to our recommendation in the previous analysis are in the money. The bears pulled the price down to the breakout level at £1,052 on February 7 but the long tail on the day’s candlestick showed aggressive buying by the bulls. The bulls are currently facing resistance near £1,300.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

If the buyers can drive the Ethereum price GBP above £1,300, the ETH/GBP pair could rally to the pattern target at £1,352. If this level is also crossed, the uptrend could extend to £1,500. Traders can consider booking partial profits at the current levels and trail the remaining position with a suitable stop-loss. As the Ethereum price GBP moves up, the stops can be trailed higher to protect the paper profits.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 2ND FEBRUARY 2021

Ethererum price GBP is facing resistance near £1,052 and buying near the 20-day EMA. This suggests the bulls are not ready to let go of their advantage. The rising moving averages and the RSI in the positive territory suggest the bulls are in control.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_chart A tight consolidation near an overhead resistance usually results in a breakout above it. If the bulls can propel the Ethererum price GBP above the £1,051 to £1,076.99 resistance zone, the uptrend will resume, which has a target objective at £1,352. Traders can buy on a breakout and close (UTC time) above £1,052, with the stop-loss kept just below the 20-day EMA. Contrary to this assumption, if the Ethererum price GBP turns down from the overhead resistance, the ETH/GBP pair could continue to trade in a tight range between £1,052 and the 20-day EMA. The pair will turn negative if the bears sink and sustain the price below the 20-day EMA. Such a move will suggest that traders used the current consolidation to sell their long positions. The critical support to watch on the downside is £750.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 26TH JANUARY 2021

The Ethereum price GBP rose to a new all-time high at £1,059.82 on January 19, which could have triggered the short-term trade mentioned in the previous analysis. However, the bulls could not build upon this strength. Traders who trailed their stops could have stopped out with a small loss on January 21 as the ETH/GBP pair plunged below the 20-day EMA.

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

The Ethereum price GBP fell on January 22 again gave an opportunity to the traders to go long as the intraday low of £755.03 was near the £720 level where we had suggested traders buy again. The pair rebounded sharply and again rose to a new all-time high at £1,076.99 on January 25. Traders may have benefitted from this rise. However, the failure of the bulls to sustain the price above £1,000 shows traders are booking profits at higher levels. If the bears sink the price below £948, the pair could drop to the 20-day EMA. If the price rebounds off this level, the bulls will again try to resume the uptrend. This positive view will invalidate if the pair turns down and breaks below the support line of the ascending wedge. Such a move could signal a trend change.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 19th JANUARY 2021

Etherum price GBP is on a steady rise while Bitcoin continues to trade in a tightening range within a pennant pattern. Ethereum looks to show continued strong price momentum driven by the Ethereum 2.0 launch and upcoming CME futures launch in February. With demand on the rise, Ethereum’s daily transaction volume is going parabolic. It now settles $12 billion in transactions daily – $3 billion more than Bitcoin.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ether is in a strong uptrend and the bulls have pushed the price back towards the recent high at £996.45. The upsloping moving averages and the RSI in the overbought territory suggest bulls are in command. If the buyers can sustain the price above £1,000, the momentum could pick up. The next target to watch on the upside is £1,201 and then £1,400. Traders can attempt to ride this move higher by buying after the price sustains above £1,000 for a few hours and the stop-loss could be kept just below the 20-day EMA. This is a short-term trade and the risk to reward ratio is only about 1:1, hence the position size can be 50% of usual. Contrary to this assumption, if the price turns down sharply from the overhead resistance and the bears sink the price below the 20-day EMA, the pair could drop to £720. The bulls may enter close to this level and the pair may consolidate between £720 and £1,000 for a few days before starting the next trending move.

ETHEREUM GBP – HOW TO TRADE ETH/GBP 12TH JANUARY 2021

The Etherum price GBP is one of the most popularly traded pairs in the financial market. The pair includes Ether and UK’s fiat currency GBP for trading. While Ethereum functions as the blockchain platform, which independent developers use for building smart contracts, as well as decentralized apps using the computing power, further paid in Ether, the British Pound, also known as Sterling, is a widely traded traditional currency after USD, Euro, and Yen. https://youtu.be/o4JEVCLJxDw

find out how to trade Etherum GBP

Etherum price GBP, despite maturing since its launch in 2012, is regarded as a highly volatile cryptocurrency. On the other hand, GBP is the traditional currency of the UK and one of the most sought-after fiat currencies in the world. When the two currencies are traded together, the focus lies entirely on the base currency i.e. on the crypto side, owing to its daily average volatility, which is nearly ten times higher than the GBP. This implies that to trade Ethereum Price GBP currency pair successfully, traders must gain an understanding of how the two are intrinsically linked with each other in the crypto market, as well as the blockchain segment. Additionally, it is also important to analyze the dynamics involved in the movements of sterling.

GBP and ETHereum – Main Differences

Many factors drive crypto’s price direction, and they are much different from those that influence fiat currencies like GBP. Traders looking to trade Ethereum Price GBP currency must understand these differences and factors to trade profitably. Even though it differs (in nature) from Bitcoin, Ether’s pricing direction, like any other cryptocurrency, is directly correlated to Bitcoin. Another thing that must be kept in mind is that all digital currencies, including that of Bitcoin, are mostly influenced by increased public sentiment related to the adoption of digital currencies in the future. Thus, news about developments that further impact cryptocurrencies’ traction drives the prices of cryptocurrencies, including Ether, upwards. Especially in the case of Ether, the number of decentralized apps being managed and operated on the Ether blockchain directly impacts its demand, and thus the price of the cryptocurrency. In turn, it affects the long-term pricing trends instead of daily movement. Over time, competition from different blockchains that offer similar functionalities as Ether shall also impact Ethereum’s users, as well as Etherum price GBP. On the other hand, the Sterling or the GBP’s value against many other fiat currencies is impacted depending upon the performance of the UK’s economy, as well as the BoE’s (Bank of England) monetary policy.

Trading Etherum GBP

Traders planning to trade ETH/GBP need to look at the chart positions and monitor GBP/USD market trends, as well as developments. They should primarily focus on ETH and also note that some of the major drivers of Ether’s value are news related sentiments. Thus, any news related to the rates of crypto adoption in the future and the long term use of the Ether platform, as well as other blockchains like EOS.IO can impact the price of ETH to a large extent.

CRYPTOCURRENCY TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

Ethereum Price GBP_Chart We had projected a target objective of £1,000 in our previous analysis and Etherum price GBP hit a high of £996.45 on January 10. This may have attracted profit booking from traders but the bulls purchased the dip, forming a long-legged Doji candlestick pattern on January 10. However, the bulls could not build up on the recovery and the Etherum price GBP pair again turned down on January 11. The selling intensified after the bears broke below the £785.57 support. The bulls aggressively purchased the sharp drop to £621.02, which led to a sharp recovery by the end of the day. This suggests strong demand at lower levels. The bulls will now try to push the Ethereum price GBP back to £1,000, but the up-move will have to face stiff selling pressure as traders who are stuck at higher levels are likely to liquidate their positions. After the large range day on January 10, the pair may remain range-bound for the next few days as the bulls and the bears try to establish their supremacy. As the chart is not offering any clarity about the next possible move, traders may remain on the sidelines.

Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.

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