A 10% reduction in the price of Ethereum is less frightening than you think


It was a very hard day for all cryptocurrencies, which is to be expected. Mainly Ethereum has been of interest to many people, mainly because it is still a bit of a silver standard among the altcoins. Unfortunately, the $ 150 level did not hold up, although it would seem that there is already a slight recovery in the market.

The price of Ethereum is not dead

Whenever cryptocurrency markets undergo a major correction, there are concerns about when markets will recover. As often happens, this will depend a lot on what Bitcoin decides to do. As of now, Bitcoin is stuck in dirt and is only pushed further down.

This usually does not bode well for Ethereum or other cryptocurrencies. So far, no resources can escape this negative trend, and it seems rather unlikely that something will change during the day. A silver coating is like the price of Ethereum, while it looked set to hit $ 120 at some point, it rebounded to just over $ 135. This is a bit positive, although the support is still rickety.

Some people are quite worried about the future of Ethereum, especially in the price department. It has become more than evident that many companies that host an ICO have liquidated their holdings in the ETH quite a while ago. Even so, this bearish pressure should remain in place, mainly because there are still new ICOs every single week. Rest assured that there will be more dumpages to come.

From the other side of the medallion, it is important to keep in mind which solutions and services are actually compatible with Ethereum. Unlike what some might expect, GoChain is fully compatible with this technology. It offers performance and transaction speed improvements, both difficult to find when looking only at Ethereum.

For those who prefer technical analysis, it would seem that Ethereum is subject to some beautiful Elliott Wave models at this time. Unfortunately, it would seem that the next stage is another drop, which could once again see the decline in Ethereum prices. This is not something exciting, even if the technical analysis is not always correct.

Based on all the circumstances, it seems certain that Ethereum will get a rebound at some point. The ETH / BTC value does not decrease much, which further demonstrates that there is some resilience in that department. It is difficult to predict what will be the way it will end in the next few hours. It seems that the total market capitalization is again increasing, but this may not necessarily reflect on Ethereum itself.

Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.

Source link