Ethereum is not going to $0

Ethereum may have lost second position on CoinMarketCap to XRP, but it is not going away anytime soon.

The 2018 bear market has been tough on the majority of projects, but Ethereum's volume reached an all time high during November 19th to December 24th of 2018. Ethereum had gains of close to 80% during this time and as you can see on the chart below, the volume reached for the December 2017 pump is considerably lower than that of 2018.

Ethereum bounced of the $116 support, similar to December 27th, thereby creating a double bottom if the support can hold for the coming weeks. This also means that there is definitely demand for ETH at $116.

Ethereum got rejected before reaching the 12 and 26 EMA at $135 due to low volume.

Ethereum is currently moving is an upwards channel with volume very slowly increasing. Note the RSI levels where Ethereum found support.

MACD actually looks very bullish when you look at the cycles, however there was a fake out similar to December's cycle. Momentum currently looks like it is turning.

When you zoom out a bit, you can clearly see the formation of pennants followed by breakdown consolidations and that Ethereum is currently in formation of a new pennant. Depending on volume and hype surrounding the Constantinople fork, we will have to see if Ethereum can break out of this pennant to continue in the upward channel going forward, otherwise we might see another breakdown. Note RSI levels where ETH broke down.

What is the Constantinople fork you ask?

Well in short...

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