ETH at decision point
I have noticed lately ETH has fallen out of fashion. Yet it is still one of the largest coins and one that will play a key part in the near to mid term future. I have read somewhere that ETH and coins based on ETH are controlling about 90% of the value of alt coins. If that is the case really, I don't think this sort of dominance will last, but surely eth iss one of the main driver of the alt market.
First and foremost it looks to me like ETH has to make a decision quite soon, weather to tank a bit more or continue with its rise and maybe find a price level.
If I had to make a bet, I would take the bullish side. There just seems to be a lot of support around the 800ish price point and the bullish signs seem stronger to me than the bearish. The uptrend of the triangle is longer than the downtrend, the rest of the market keeps going up and there is lots of support between 700-850.
But much of the ETH price will depend upon the rest of the crypto market, even though ETH vs BTC seems to be a constant battle and often the rise of one is short term bad for other, but in the mid-long term they seem to be supporting each other.
So many analysts are calling a bullish breakout of BTC from its current downtrend:
However one of the issues with these trends is that one can draw them differently and just a slight variation of the trend line shows a very different picture.
The MACD and RSI show more momentum with BTC at the moment than with BTC, but ultimately I think BTC won't rise without ETH to follow.
BTC has had lots of good news lately, especially the lightning network running on the mainnet. I think just like one year ago such news can catapult BTC forward.
So overall I am a little more bullish BTC than ETH but I think there are more signs indicating a positive breakout and move to the next price level for ETH.
I want to see ETH break out of the triangle and BTC above 12k before placing some short term buy orders. I would not be short at this time.
As the saying goes, be fearful when others are greedy.... :P
Ether will definitely rise soon until EOS, Neo and finally ADA are ready to take over...
This was my observation during the last weeks, too. We will see a awesome comeback of the boss. I'm expecting values of the BTC dominance above 50% in the next few weeks.
I do not get why BTC is still so attractive...
First in. Why is .com such a popular domain extension? Is it technically better than any other extension? Nope.
Let's hope that BTC and ETH may go in the right direction...
I agree eth will follow btc! I SAY BULLISH AS WELL! Like you said $800 has lots of support! I'm adding here! Have great day SIR!!
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hmm let´s cross the fingers for ETH. That´s my first ever coin I bought, he needs to stay where he is right now!! 😁
I feel like ETH , Steem and SBD are at the point where they have to go up and save our lives to take a downhill ride
Sir,towmorrow i invest in ETH.it is greet coin but some day its rate very low but i think some day later its rate daoule or more then 1200
An excellent review and I think that your decision to take the bullish side is generally true, since even with such volatility of the ETH price, the cost by the middle of the year is expected to reach $ 1,700, and by the end of the year a breakthrough to $ 2500 is possible. But to make the final decision for everyone personally! Thank you @knircky
It's really great information....
Thanks for sharing...