Cyclic nature of open-ended markets entails the never-ending torrent of repeatedly changing accumulation phase and distribution phase in such a way that the end of an antecedent phase corresponds to the beginning of a new phase. At first blush, eth has all signs of staying in the distribution phase known for its inherent danger of a higher negative .
The axis of a symmetry connects the 0.00215 floor with the 0.0372 top bar separating two equivalent 70 days time periods that map a triangular shape onto a 140 bars bubble.
and timezones agreed in setting the point at which the market sentiment may retreat to 05.22. I would anticipate a strong slump until then.
As demonstrated by fibonacci timezones the bubble was highly coordinated with news events and halving rumors made the latter affect the direction of the overall trend. This market was timed in the simplest way that it effectively consolidated many reasons for railing south into one.
1. Valve is on and will be adding to steam.
2. Segregated witness is a pending pull request.
3. New release of bitsquare.
4. gbtc has seen a surge in value.
Eth wont defend its value against hype elevator.
My verdict: I forecast 0.01066 in the coming days and likely 0.006 before the end of may.