I have noticed lately ETH has fallen out of fashion. Yet it is still one of the largest coins and one that will play a key part in the near to mid term future. I have read somewhere that ETH and coins based on ETH are controlling about 90% of the value of alt coins. If that is the case really, I don't think this sort of dominance will last, but surely eth iss one of the main driver of the alt market.
First and foremost it looks to me like ETH has to make a decision quite soon, weather to tank a bit more or continue with its rise and maybe find a price level.
If I had to make a bet, I would take the bullish side. There just seems to be a lot of support around the 800ish price point and the bullish signs seem stronger to me than the bearish. The uptrend of the triangle is longer than the downtrend, the rest of the market keeps going up and there is lots of support between 700-850.
But much of the ETH price will depend upon the rest of the crypto market, even though ETH vs BTC seems to be a constant battle and often the rise of one is short term bad for other, but in the mid-long term they seem to be supporting each other.
So many analysts are calling a bullish breakout of BTC from its current downtrend:
However one of the issues with these trends is that one can draw them differently and just a slight variation of the trend line shows a very different picture.
The MACD and RSI show more momentum with BTC at the moment than with BTC, but ultimately I think BTC won't rise without ETH to follow.
BTC has had lots of good news lately, especially the lightning network running on the mainnet. I think just like one year ago such news can catapult BTC forward.
So overall I am a little more bullish BTC than ETH but I think there are more signs indicating a positive breakout and move to the next price level for ETH.
I want to see ETH break out of the triangle and BTC above 12k before placing some short term buy orders. I would not be short at this time.
As the saying goes, be fearful when others are greedy.... :P
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Ether will definitely rise soon until EOS, Neo and finally ADA are ready to take over...
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This was my observation during the last weeks, too. We will see a awesome comeback of the boss. I'm expecting values of the BTC dominance above 50% in the next few weeks.
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I do not get why BTC is still so attractive...
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First in. Why is .com such a popular domain extension? Is it technically better than any other extension? Nope.
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Let's hope that BTC and ETH may go in the right direction...
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I agree eth will follow btc! I SAY BULLISH AS WELL! Like you said $800 has lots of support! I'm adding here! Have great day SIR!!
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My friend, be part on our steemit school on discord channel. We have a lot of best bloggers . Thank you https://discord.gg/jAQEPF
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I’ve joined but don’t hang out n chats too much
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hmm let´s cross the fingers for ETH. That´s my first ever coin I bought, he needs to stay where he is right now!! 😁
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I feel like ETH , Steem and SBD are at the point where they have to go up and save our lives to take a downhill ride
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Sir,towmorrow i invest in ETH.it is greet coin but some day its rate very low but i think some day later its rate daoule or more then 1200
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An excellent review and I think that your decision to take the bullish side is generally true, since even with such volatility of the ETH price, the cost by the middle of the year is expected to reach $ 1,700, and by the end of the year a breakthrough to $ 2500 is possible. But to make the final decision for everyone personally! Thank you @knircky
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It's really great information....
Thanks for sharing...
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Interesting! I think I will go with you and am more bullish :-)
The recent concerns about Ethereum's Casper (and PoS in general) are things I follow closely though. Check out for instance: https://www.coindesk.com/fundamentally-vulnerable-ethereums-casper-tech-takes-criticism-curacao/amp/
Anyway, we'll see what this year will bring us :-)
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I think too that ETH is the by the most people used to buy Altcoins. It is right now the cheapest way to change the ETH into other Altcoins and transfer ETH as well to ETH Wallet. Maybe in Future will change, but BTC have to use the lightning, to get more strong in future. Still it is not optimal in my eyes, but an improvement already. Hope that it will get much more better any time
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ETH markets drifted lower on Friday, dropping 1.5%. The marketplace seems like it is going to maintain to check the $850 degree for help, a place that has been somewhat dependable. despite the fact that we wreck down below there, the marketplace will likely retain to find shoppers underneath. I assume that the market is a piece sluggish currently, as volume is very gentle. I suppose that the $800 degree underneath is vastly supportive, simply as the $900 degree has been massively resistant. brief-time period pullback ought to offer buying possibilities.
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I also recently spotted that there are major updates to the underlying tech coming, and they can be ported to ETH or any other graphene chain.
This may not have been priced into ETH yet, so once I think ETH is consolidating I'll be grabbing some :)
This is basically crypto-investing 101 haha. Buy when you hear a big upgrade coming up when volume and price have been low for a while. Excited about what happens after btc settles down or starts losing dominance over the other currencies.
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Crypto-Bounce Reaches Decision Point as Prices Near Resistance
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ETH will sometime this quarter have a bullish run but the certain thing is that its a successful coin. Most tokens use the ethereum blockchain so the possiblities are high
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I also think that BTC will eventually pull ETH up, but because ETH looks like a dead horse @, I expect that a sudden move downwards is possible.
I think that BTC (check here@) will stick to the MA377 moving average line and will not enter space between MA377 and MA233. So if BTC will maintain it's trend ETH will probably follow it.
Trend Lines sometimes really sucks! Your observation is correct and everybody draw lines a little different.
So I switch to simple moving averages with periods in Fibonacci number sequence (8,13,24,34,55,89,144, ....). Those lines are generated by your trading platform and are less subjective. But I found out that are great tool for finding support and resistance areas and defining target levels.
I propose to try SMA lines in your favorite trading view. Then just scout the price back and interesting patterns will emerge in front of your eyes.
Be good ;-) !!!
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I have to say I much prefer this balanced analysis over some other that are forced into my face repeatedly each day.
ETH seems to be in a rising wedge based on your first chart, so let's see what happens shortly I guess.
Cheers!
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very good information dear friend
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Hope ETH will break out of the triangle to the upwards.
But maybe it won‘t give a clear direction because there is not much happening these times in the crypto market
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Crypto markets are so unpredictable that i would take any analysts ETH predictions with a grain of salt. I feel like things never go exactly as anticipated or as predicted.
I do agree with @lonas: when people start shouting for moon shuttle launches thats when I deploy my parachute and eject.... and when they start divebombing and calling for crashes to 0, thats when I buy in. I have caught a couple falling knives like this, but with the big ones its usually worked out well.
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Excelente post amigo @knircky, cuentas con mi apoyo saludos
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One day ETH is number 1 crypto currency
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...betting the bullish side as well. Good update!
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