Ethereum. There is a wind, but no changes. We are drifting.
In last review we wrote about the drift of Ether waiting for the wind of changes. Since then Bitcoin has grew by 30% and has been above low-moving average of weekly chart what allows to state the emergence of quite strong wind of changes on cryptocurrency market.
But many other coins and among them Ether turned out to be almost unreceptive to that wind. We remember that Bitcoin was the growth locomotive and began to lag behind only on latter stages which ended with turnaround and sufficient fall of the whole market.
This algorithm may repeat also now. But Ether has still been drifting near $ 500 and technically does not give a reason to buy. On the backdrop of the growth Bitcoin and some other’s cryptocurrencies such behavior induces more to sell than to buy.
We have been monitoring the situation.
But many other coins and among them Ether turned out to be almost unreceptive to that wind. We remember that Bitcoin was the growth locomotive and began to lag behind only on latter stages which ended with turnaround and sufficient fall of the whole market.
This algorithm may repeat also now. But Ether has still been drifting near $ 500 and technically does not give a reason to buy. On the backdrop of the growth Bitcoin and some other’s cryptocurrencies such behavior induces more to sell than to buy.
We have been monitoring the situation.
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