Ethereum is falling pretty hard, it is right now down 12,5%. Lets have a look at the daily chart and see what we can learn:
Comment: Ethereum is right now at 480 and this is a major support zone. Look at Support 1 in the chart. This is the area where it stayed for about 30 days between November and December.
However, there is another support zone that is much stronger but that would mean a much higher fall for Ethereum. That is Support 2 and that is located at 390. In my opinion it is likely that Ethereum will go to this support zone since we will probably need really strong support in order to charge higher in the future.
Also, it does not help Ethereum when statists are cracking down on ICO´s and Lame Stream Media Platform such as Google, Facebook and Twitter are banning crypto related ads.
Happy trading nevertheless!
I agree, after price broke daily demand, there are weekly buy orders sitting at $425.
interesting, yeah, we could get a little bounce from current levels, but it will likely fail, we will see how this week will end.
And it doesn't help that all those ERC20 tokens have their prices based in ETH which has its price based in BTC.
I also do not feel the floor is important.
I am pretty sure we are at the start of the next bull phase.
And, i believe that bad actors will try to smash the price of ETH down at this key juncture.
My feeling is to buy as much as you can. If it goes lower, buy more.
For no other reason than the ICOs that will come out this year.
But, i am farely confident we will see 4000% price increase just from the added demand of more people getting into cryptos.
I agree for sure, buy the dips and especially altcoins that you believe in that underperform Bitcoin (mostly all of them)
how to make a profitable transaction according to you? @freeforever
if you are familiar with trading, you could short the market. Otherwise, I would just buy more cryptos with fiat money during dips like these.
okay thanks for the advice. . .
I bought earlier in the support area 1. It hardly touched. If we see it hit level 2 it should be around mid to late april. I expect trend reversal by june.