Ethereum, the second largest cryptocurrency by Market Cap has lost its value tremendously.
ETH has gotten to the point where there seems to be no bottom. Falling like there is no tomorrow Ethereum’s price is at its lowest in the past 14 months.
Today Ethereum is down -12.07% compared to USDT and down -8.57% compared to Bitcoin. In fact, Ethereum is the #1 loser among all the coins over a $1 Billion Dollar Market Cap in the past week! Placing it as the #3 loser of all the Top 100 Coins. The massive sell-off was driven by a few reasons, one being the false rumor over how Goldman Sachs had dropped its plan of Crypto Trading Desk. The next, is the obvious Bear Market that Crypto has been in along with
BTC surrounded by fear and panic after Futures kicked in mid-December of 2017. A followed reason is that of ICO’s cashing out their ETH to complete their projects, payrolls, legal issues and over all to keep their project/company on its feet. The last reason comes from fall of the “ICO HYPE” which was brining in a lot of Value to ETH as well as hyping up the Price of ETH. This has obviously slowed down which brings in less ETH buyers overall.
But now that we went over all the reasons why ETH has been falling and taken a sharp turn. Just the way the ICO hype and new coming came in died down. So, will the selling of ETH from ICO’s, most are well over their goals and will only take out so much to complete their work. Eventually, 90% of ICO’s will have slowed down their selling of ETH and cashing out which will help stop the bleeding on ETH.
This is already one reason ETH falling price will slow down. The next is ETH can only fall so low and hit rock bottom to where there will only be one way to go and that is up. We are clearly seeing dramatic oversold signals that even RSI’s are starting to look funky and exhausted. I can go on and on over many reasons I believe ETH’S dip will slow down and bounce from the more Fundamental Side of things.
Now let’s talk, TA (Technical Analysis) ETH has recently broken under a MAJOR SUPPORT level showing major oversold signals along with studies such as MACD, RSI, WILLIAMS and so on. This is another backed up reason ETH can reverse soon. Another way to see and proof ETH is the best option to buy now if not soon is comparing it to its highest levels. ETH is so low it has the highest ROI and the highest “room to run” as we speak. So even if things don’t work out as planned. ETH has so much room to run it can still bring in high ROI on worst case scenarios.
The only thing that could possibly turn the tables around on everything I have mentioned is the ETH Futures. But, we all know how HIGH-RISK shorting is specially around such low prices. I don’t think its risks shorts are willing to make under contracts. Which in a way leads me to believe that opened futures on ETH will not affect It has much as it did to others like BTC. But, this part could really go either way.
Coming to a conclusion, I believe ETH is a hot coin to keep a look at as it currently trades at $190 per coin. Giving it a Market Cap of $19.4 Billion. Which I have a few reason to believe is actually quite low for what ETH brings to the table and I haven’t been able to say that on ETH in a long long time.
Another thing ti keep in mind which I always mention to everyone is my fav quote.
“When everyone is Greedy, Be Fearful. When everyone is Fearful, Be Greedy.” All I can see is bad news, pressure, panic, red, and fear all over. Which makes me want to be Greedy. Even though ETH could still face another -20% loss, the worst has already taken place in my opinion and being in for the long run as a believer I find the price under $200 very attractive. Specially when it peaks under $185. So, I alert and will be loading up on ETH. Between $145 and $190. I predict we will run towards $285 upwards of $300 and this price is one to own ETH at.
P.S All short positions have been closed with massive gains, congrats too all goon members with these great back to back calls.
ETH has gotten to the point where there seems to be no bottom. Falling like there is no tomorrow Ethereum’s price is at its lowest in the past 14 months.Today Ethereum is down -12.07% compared to USDT and down -8.57% compared to Bitcoin. In fact, Ethereum is the #1 loser among all the coins over a $1 Billion Dollar Market Cap in the past week! Placing it as the #3 loser of all the Top 100 Coins. The massive sell-off was driven by a few reasons, one being the false rumor over how Goldman Sachs had dropped its plan of Crypto Trading Desk. The next, is the obvious Bear Market that Crypto has been in along with
BTC surrounded by fear and panic after Futures kicked in mid-December of 2017. A followed reason is that of ICO’s cashing out their ETH to complete their projects, payrolls, legal issues and over all to keep their project/company on its feet. The last reason comes from fall of the “ICO HYPE” which was brining in a lot of Value to ETH as well as hyping up the Price of ETH. This has obviously slowed down which brings in less ETH buyers overall.But now that we went over all the reasons why ETH has been falling and taken a sharp turn. Just the way the ICO hype and new coming came in died down. So, will the selling of ETH from ICO’s, most are well over their goals and will only take out so much to complete their work. Eventually, 90% of ICO’s will have slowed down their selling of ETH and cashing out which will help stop the bleeding on ETH.
This is already one reason ETH falling price will slow down. The next is ETH can only fall so low and hit rock bottom to where there will only be one way to go and that is up. We are clearly seeing dramatic oversold signals that even RSI’s are starting to look funky and exhausted. I can go on and on over many reasons I believe ETH’S dip will slow down and bounce from the more Fundamental Side of things.
Now let’s talk, TA (Technical Analysis) ETH has recently broken under a MAJOR SUPPORT level showing major oversold signals along with studies such as MACD, RSI, WILLIAMS and so on. This is another backed up reason ETH can reverse soon. Another way to see and proof ETH is the best option to buy now if not soon is comparing it to its highest levels. ETH is so low it has the highest ROI and the highest “room to run” as we speak. So even if things don’t work out as planned. ETH has so much room to run it can still bring in high ROI on worst case scenarios.
The only thing that could possibly turn the tables around on everything I have mentioned is the ETH Futures. But, we all know how HIGH-RISK shorting is specially around such low prices. I don’t think its risks shorts are willing to make under contracts. Which in a way leads me to believe that opened futures on ETH will not affect It has much as it did to others like BTC. But, this part could really go either way.
Coming to a conclusion, I believe ETH is a hot coin to keep a look at as it currently trades at $190 per coin. Giving it a Market Cap of $19.4 Billion. Which I have a few reason to believe is actually quite low for what ETH brings to the table and I haven’t been able to say that on ETH in a long long time.
Another thing ti keep in mind which I always mention to everyone is my fav quote.
“When everyone is Greedy, Be Fearful. When everyone is Fearful, Be Greedy.” All I can see is bad news, pressure, panic, red, and fear all over. Which makes me want to be Greedy. Even though ETH could still face another -20% loss, the worst has already taken place in my opinion and being in for the long run as a believer I find the price under $200 very attractive. Specially when it peaks under $185. So, I alert and will be loading up on ETH. Between $145 and $190. I predict we will run towards $285 upwards of $300 and this price is one to own ETH at.
P.S All short positions have been closed with massive gains, congrats too all goon members with these great back to back calls.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.