Unsurprisingly (though disappointingly), we're witnessing a great Black Friday sale for cryptos. The question we should be asking is how low this can go and where it will stop.
I personally think $140 can be a support. If broken, $100. Under that we have $50.
At the same time, good entry points may be coming soon early next year.
ETH has dropped as my last post suggested likely.
At first, the drop resembled the worst-case, but ETH soon recovered (as did the market). This leads me to think the second scenario is likely and $144 will be hit.
If we look at prior price action, there is really no real support (as in 2017 ETH saw ICO-driven irrational exuberance).
As its price drops, people ...
The current state of affairs wrt ETH is such that it's hard to see which level would be the bottom.
$145 remains an interesting level.
My original arrow (green), which was quite pessimistic, has been proven too optimistic.
The fundamentals of ETH is being questioned, as known issues wrt scalability aren't yet resolved.
I draw now three orange arrows. The ...
I'm posting a video on YouTube to explain this in more detail. The overall idea is that EOS while being an ambitious project in the near future is clearly going down in price.
After breaking down of the critical level I mentioned last time, it's going lower. $<2 possible
As charted is the question
Supporting this hypothesis:
Inverse H&S target reached
200D & 350D MA resistance
Lots of hope & bravado from bulls
Still no volume
Best entry would be 8.5k (look at the green 200D SMA on this chart)
Personal opinion only