Ethereum: What’s Taking So Long?

Ethereum's Price Action Analysis

Looking at ETH/USD’s daily chart, do you see the beautiful little bottoms above the $82 support? Any chart analyst knows that this is the classic bullish reversal chart pattern. But we like to take things to the next level. The pair has yet to break above the daily Ichimoku cloud and until that happens, we can’t be sure of a medium-term bullish reversal, especially since the future cloud remains bearish. The cross-over might happen after Constantinople.

So if you’re a die-hard Ethereum fan, you might find current prices a good buying opportunity.  However, any further troubles in the Ether-land, and especially if it’s unable to break above the Ichimoku cloud, could actually drag the price down to as low as $48.

Disclaimer: Now I’d like to hear from you. What are your thoughts on Nano, which currently ranks 36 in terms of market cap? Do you think it can ever make it to top 10?  Let me know in the ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.