ShortMy personal opinion is that Ethereum has reached a point where it is ready for a 20% bearish move towards Piebanter and the green support line is a virgin point for rebuying.
ETHWUSDT.P trade ideas
ETHW 18$Paradigm explained that:
“We can infer how much the market estimates ETHPOW will be worth from simply looking at spot-future basis, since spot = PoS + PoW, while future is just PoS. Currently, the basis implies ETHPOW to be priced ~$18, which is ~1.5% of ETH market cap.”
Ethereum pow can increase to 18$.
ETHW EthereumPoW The Original Ethereum Blockchain !ETHW EthereumPoW is The Original Ethereum Blockchain powered by Proof of Work.
It is distributed to all ETH holders who claimed it, so it should have the same supply as Ethereum ETH of 122 Million coins.
Assuming that all the holders claimed the tokens, which is hard to believe, at the current price of $8.9 the market cap would be around 1Billion, which it is lower than Terra Classic LUNC which i consider a worthless coin.
Compared to Ethereum`s market cap of $172 Billion, this ETHW was quite a small dividend, 0.55%, after the Merge.
I don`t think too many people sold it because it`s "free" money.
I would rather long it here!
The resistances i`m watching are $29 and $51.
Looking forward to read your opinion about ETHW.
