Bearish short term, still incredibly bullish long term
Following Eth and the rest of the market, it is fair to say we are most likely going to continue in the downtrend if they do not pick up.
If we continue to go below $6 I see the next resistance levels being $5.50 and a hard floor at around $5.
Many people have said that the price will pick up once main net is released. However, we have yet to receive a date for it, Fabian has pushed it from Q2 this year to "sometime around the summer, but do not quote me on that" which makes me think it won't be ready until late august or possibly pushed further into the fall. (giving dates for these kinds of projects is difficult, I cannot blame him for being vague on this subject). If I am correct than we will more than likely continue this downtrend for awhile.
Long term I see this as having massive potential, even at the price that it is at right now would be a good time to get in. This is something I think most investors who got in at RICO think as well, so I do not really need to convince anyone of that.
I made a note about the "Reality through Innovation & Technology" event on the 6th of July being a possible reason for the pump we saw earlier this month, might be a good sign that other big players are interested in this project and that can only be good for long term potential.
If we continue to go below $6 I see the next resistance levels being $5.50 and a hard floor at around $5.
Many people have said that the price will pick up once main net is released. However, we have yet to receive a date for it, Fabian has pushed it from Q2 this year to "sometime around the summer, but do not quote me on that" which makes me think it won't be ready until late august or possibly pushed further into the fall. (giving dates for these kinds of projects is difficult, I cannot blame him for being vague on this subject). If I am correct than we will more than likely continue this downtrend for awhile.
Long term I see this as having massive potential, even at the price that it is at right now would be a good time to get in. This is something I think most investors who got in at RICO think as well, so I do not really need to convince anyone of that.
I made a note about the "Reality through Innovation & Technology" event on the 6th of July being a possible reason for the pump we saw earlier this month, might be a good sign that other big players are interested in this project and that can only be good for long term potential.
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.