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At spot prices, the bears are testing the stress of the dApp ecosystem and testing the determination of all stakeholders and market investors. Of course, it's a big drop, from $ 1,400 to less than $ 100 has been detrimental to investors, businesses and developers.
Price analysis: ETH / USD
Every week, ETH / USD fell 17% last week and quite stable in the last day and hour. And even if bears are digging, ETH is down 85% from the 2018 peaks and as the Fibonacci retracement rules require, a natural correction can not be avoided.
This is why investors and traders across the industry expect prices to recover and close above $ 100 by the end of this week. Once this happens, then it is possible that ETH / USD will expand to $ 130 or more. Otherwise, it will certainly drop to $ 50 or less.
The trend is very clear, the ETH / USD is bearish and swinging in a narrow range of $ 17 with limits to $ 100 and $ 83. Unless there are earnings above $ 100, the bears have control and considering the recent price erosion rate, we can not discount the possibility that prices fall below $ 83.
In fact, the share of ETH / USD prices is still fluctuating in the historical low of 7 December. If buyers are in charge, there will have to be strong gains above the 7 December highs at $ 100, while drops below the lows would lead to a $ 50 sell-off.
It is obvious that bears have control, but at spot prices prices are in range mode and are accumulating. However, if the bulls gain momentum and push prices above $ 100, then ETH buyers have a chance.
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