nickminter

ETH run-up compared to all-time high in APR/MAY

Short
FOREXCOM:ETHUSD   Ethereum
Looking at the 6-month chart of ETH it's clear the last run was not going to stay at those levels. 50% increase to 50% decrease in a month in April and may. However, that has given us valid information of what we're seeing for the price action now for ETH. This run-up is fueled by people seeing spending millions on NFTs and stupid shit. Some have useful utility, but most are just avatars. What I see now with the gas for eth being extremely high is that we will come back to $2700 in the short term before we really know if we are going to drop or move up. Right now I wouldn't touch Eth until it's in the $2700s even then I can see it dropping lower. I am short term bearish on this crypto so LETS GO!

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