Ethereum (ETH): Sentime Similarity Reflected in Price

in ethereum •  25 days ago

SUMMARY

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Ethereum (ETH) is displaying a high similarity index to Bitcoin (BTC). This is often called the "All the Same Market Phenomena". In other words, many holders of ETH are also holders of BTC. The combined social mood therefores is reflected in the price of BTC and ETH generating a high similarity index.

The below short term chart is also showing the blue downward wedge but it is not an ending diagonal sequence. Price broke out and impulsed up five waves and obviously correcting today. I've placed the red C wave towards the 0.78 Fib level. It's not a required level of retrace but expected.

If a second impulse motive can deliver $610 or higher levels; it would be a significant milestone. The second impulse would provide a greater confidence to the trend reversal.

The longer term also shows a bull flag (purple). The white arrow shows the the upper purple trendline needs to be breached and the $610 or higher from the second impulse motive would allow that.

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Thanx for this post :-)

Saludos.. esta si esta bien difícil de entender...

ETH is a HODL, but the price drops have been discouraging to say the least. Aside from fundamentals, the news that affects BTC seems to drag down ETH almost on par. Can you address these rumors about EU crackdown?

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I was shocked to see the price dropping again today, but I believe it will rise again, we just need not to be discouraged because it will rise soonest

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He stated many times that a price is making news. Not the other way around. :)

as bitcoin try to find strong support than eth looking for good momentum to follow bitcoin. june will be the blue moon for both technology.

Currently it looks like, now crypto currency investment is for big investors who have time and money to hold it for longer term.

Anyways great article and info.

Thank you friends have various news and information in this steemit media. I really like your news until repeatedly times I read it never missed thanks @haejin

In Fiat terms, Bitcoin and Etherium are the hard currencies of today and probably tomorrow.

Ethereum should reach $5,000 by December 2018!

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That would be awesome, but can you explain your rationale? Are you basing that on the macro chart for ETH/BTC?

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TA update BitShares?

Thanks for the update

Thanks for the update. BLOCKv (VEE) please.

That's Sentime!

The one and only true platform Ethereum!

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BTCBitcoin7416.420$-1.84%-1.06%
EOSEOS12.006$-2.84%-2.03%
ETHEthereum575.240$-0.08%-3.97%
WAVESWaves4.059$-2.83%-10.86%