We are so used to seeing altcoins spike up and just as quick collapse down back to near nothing, that etherium seems to be defying crypto law of gravity. I've been waiting for bubble collapse since 5 dollars and here is etherium still going with its last peak at $15.
But there have been some very steep plunges recently. So is it the end of etherium rise? Very cautiously I'm saying no. OBV (blue line) looks like it is going to pull etherium up to new higher highs.
Imo, Etherium does look to be bubble. But maybe there is a way to go yet.
Trade with caution
Comments
afbitcoins
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Just in case not clear from last comment, i'm not looking at Eth to resume uptrend. I view likely scenario now is that eth is in a bear market
afbitcoins
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Don't think I can delete this idea anymore but I no longer think its worth the risk of going long (for me personally at least). RSI indicator is showing significant negative divergence conflicting with the OBV mentioned in my original idea.