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.

Bitcoin Price GBP_Main

ETH TO GBP

ETHEREUM GBP – HOW TO TRADE ETH/GBP 6TH APRIL 2021 - UPDATED CONTENT

 

Ethereum TECHNICAL ANALYSIS – HOW TO TRADE ETH/GBP

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.

 

ETHEREUM GBP – HOW TO TRADE ETH/GBP 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.

 

ETHEREUM GBP – HOW TO TRADE ETH/GBP 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.

 

 

ETHEREUM GBP – HOW TO TRADE ETH/GBP 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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