ETHEREUM: The recent explosive growth in price is now showing signs of profit taking.
ETHEREUM PRICE CHART
ETHEREUM dMAmapping⇗⇗⇗⇗⇗⇗ Screen
Over the last 3 months ETHEREUM has witnessed an unprecedented explosion it its price.
This explosion in price is now showing signs of profit taking.
Though the Long Term Trends remains intact the Short Term Trend appears to be showing signs of weakness and we will be monitoring it over the next few week.
Thanks for reading.
Stephen
Shared on twitter. Stephen
This was when we triggered a BUY ALERT for Ethereum..!! Stephen
Really useful post. Thanks so much from sharing the information here. I do agree with you that this seems like mostly profit taking. It was inevitable though that there would be eventually a correction in the price of Ethereum. I think it just needs to take a little bit of a breather before resuming its uptrend.
You are very welcome and thanks for the contribution. Stephen
Many Initial Coin Offerings (ICO's) have required payment in ETH because their token are built on the Ethereum blockchain. After the sponsors (developers) of the ICO complete their offering, it is natural to assume that ETH is sold into the market to cover expenses and fund their projects.
Hopefully the sponsors (developers) of the ICO's are learning not to dump ETH onto the market.
As long as tokens are being developed on the ETH blockchain there will be a demand for ETH. It may take some time before the ETH market settles and resumes its rise. A healthy basing pattern should be good for ETH in the long term.
Have a great week!
Steem on,
Mike
Yes, from the past few days many false news are coming in for Ethereum... one such hoax is that Buterin had died in a car crash. Amidst the rumors, Buterin ultimately took to social media to prove that he was, in fact still alive, posting an ethereum block number and corresponding hash, creating proof-of-life blockchain.
Anyone would think the whole "Crypto Currency Market World" had imploded in the last few days. Looking at the chart above I would say it is simply "taking the day off"..!! What did people think? A vertical line straight up? Stephen
It was to be expected that some profit taking would occur
Absolutely. What did people expect. Thanks for the support. Stephen
@stephenkendal: Thanks for the update, hopefully it will keep growing in upcoming days.
My comment maybe useless but I took the opportunity to exchange some BTC for some ETH ... (during a -25% ETH fall - 207 USD). I still believe in the potential of ETH.
I'm new to the knowledge of crypto currency, but I find a fascinating path. Meanwhile I have learned a lot from it thanks to Steem it. Thank you for sharing. Life is good.
thank god a bought a few on yesterday's dip
Great information btw buddy , been following you for a few days now, great content especially the one about steemit yesterday
Thank you. I appreciate that. Stephen