Introduction

Hello everyone, and welcome to my fourth task. I'll be joining Professor @kouba01 and Professor @fredquantum's Team Fredquantum-kouba01 for this week's assignment. I'll be trading the Ethereum/USDT pair.

• The name and introduction of the project token, and which exchange can be traded on, project/technical/team background, etc

Ether is the Ethereum Blockchain's native token. Ethereum is a decentralized, open-source blockchain with smart contract capability. In terms of market capitalization, Ether is the second most valuable cryptocurrency. The only crypto coin that can be used to pay transaction fees is Ether. Other cryptocurrencies are supported by the Ethereum blockchain, which allows for the execution of decentralized smart contracts. It also hosts various ERC-20 tokens, which are crypto assets.

In 2013, Vitalik Buterin, co-founder of Bitcoin Magazine, published a white paper with the goal of creating a decentralized app.

CREATORS OF ETH

Vitalik Buterin is a Canadian-born Russian. One of the co-founders of Ethereum and a programmer as well as a writer. Ethereum was founded by Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.

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Binance, Coinbase, Okex, Kraken, Huobi Global, Kucoin, Ftx, and a slew of other exchanges have all listed the Ethereum currency. The following is information about the ethereum token obtained from coinmarketcap.

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Rank: #2

Price: $3,135.77

Marketcap: $376,606,964,277

Volume: $16,982,485,672

Volume/Marketcap: 0.04509

Circulating Supply: 120,100,381.50 ETH

• Why am I optimistic on this token today

I'm way too optimistic about this Ethereum token cause it's far too powerful to fail; not only is it the second most valuable token after bitcoin, but it also includes other cryptocurrencies, and if caution is not exercised, it may even eclipse bitcoin. According to the screenshot above taken from the coin market, the Ethereum token is currently trading at $3,135.77, up from $2,608.62 last week, and I am confident that the token will continue to rise.

According to my observations, the token is attempting to make a bullish movement, which is applicable to all crypto assets. As seen in the screenshot, the price movement is not particularly stable using a 5-minute time frame, and it is currently more volatile.

The median and RSI indicators were employed in this study. The median indicator is a trend-based, trend-catching indicator. It can be used to predict market direction and volatility to some extent. Simply put, it displays the median value of the chart's high and low points during a specified time period. This is accomplished by the use of ATR (Average True Range). It's a thick median line that works as a moving average and changes color based on whether the market is in a bear or bull market. When the median line crosses the same-length EMA, the green band appears, whereas the purple band appears when the median line crosses the same-length EMA.

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• Analysis of the Token

From the screenshot below, the thick median line that acts as a moving average and is colored purple or green depending on whether the market is in a bear or bull market. Actually, the green band occurs when the median line crosses the same-length EMA, whereas the purple band appears when the median line crosses the same-length EMA.. I spotted that the market has been in uptrend using a 5mins time frame and also the RSI indicator has not touched the overbought zone and the price is seen on resistance level couple of times. I took my entry since I want to trade for short time frame, with a profit to loss margin of 2:1 , RSI indicator was seen moving upward. So I placed Buy trade with entry price of 3137.80 so I set my take profit at 3155.57 and stop loss at 31277.60

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The image gotten from my binance below shows my sell orders carried out on binance exchange. So I placed Buy trade with entry price of 3137.80 so I set my take profit at 3155.57 and stop loss at 31277.60 after so many hours I have I have to close my order with $0.19114000 interest.

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After some period my trade hit the stop loss at 3126.20 with -$0.0232 loss.

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Trade Info

Parameters	info
Entry	3137.80
Take Profit	3155.57
Stop Loss	31277.60
Ratio	1:2
Profit Made	-$0.0232

• Your plan to keep it for a long time or when to sell it?

Because the crypto market is still unstable, I do not intend to hold for a long amount of time. Instead, I will seek a suitable entry point and place my trade for a short period of time, then take profit and exit the order. I'm still new to futures trading and don't want to risk loosing all my money.

• Do you recommend everyone to buy? Give reasons for recommending or not recommending

According to my analysis, this Ethereum currency has a bright future ahead of it, and the token will continue to increase, possibly even above its all-time high. I suggest everyone with the financial means to invest to buy and hold.

Conclusion

I was able to trade ETH/USDT on Binance's future market and evaluate the Ethereum token in this fourth assignment. As I previously stated, Ethereum is one of the most popular tokens in the crypto market because to its attractive prospects that everyone may trade.

Professor @kouba01 and Professor @fredquantum, thank you for this amazing talk and for your time.

Cc:
@kouba01
@fredquantum