Home / Ethereum / Ethereum could take half of Bitcoin's market share in five years: analyst

Ethereum could take half of Bitcoin's market share in five years: analyst



Ripple caused a sensation today in the cryptocurrency segment, as the third largest coin jumped more than 15% after trading in a narrow range for several days. Most of the major currencies joined the rally, but gains were eased and the technical configuration remained unchanged in most cases, with long-term prospects still bearish, while the short-term picture remains mixed.

Ethereum, which has been at the center of trends in the segment for weeks doubled to above $ 200, but has remained below the peak of recent swing, leaving several unanswered questions about the short-term trend term. Bitcoin is still stuck close to the $ 6275 level, and the total market value is still below $ 200 billion, with no clear signs of significant capital inflows in the segment.

ETH / USD, Analysis of the 4-hour chart

Ethereum quickly recovered over $ 200 after placing below the weekend lows yesterday in late trading, keeping the short-term purchase signal in our model of trend. That said, the currency has yet to show a strong bullish momentum to avoid a recovery of the long-term declining trend. As a sustained dip below $ 200 should still warn of a move to last week's lows, while a move above $ 235 will pave the way to $ 260 and confluence resistance near $ 275.

BTC / USD, analysis of the 4-hour chart

Bitcoin showed weakness over the last two days, and although the currency is still present on a short-term purchase signal, similar to Ethereum, a quick recovery above $ 6500 It would be necessary to avoid a bearish turn.

Traders should keep their positions here, but given the segmental trends that are still bearish, we still do not recommend full positions even in the strongest currencies. Below $ 6275, weaker support stands at $ 6,000, near the key long-term zone near $ 5850, while resistance is ahead at $ 6500, $ 6750 and $ 7,000.

Ripple needs to follow for a buy signal

XRP / USDT 4 hour chart analysis

While today's peak in Ripple is encouraging, the currency has to show further signs of strength, as the recent sudden spikes in the majors were quickly sold while the bearish trend remained dominant in the segment. [19659002Withintheendoftheyear-enduranceperiodtheXRPrimanesuunsignalwasinsteadyourdeliveryofthefirstandbusinessthatwillanaprospectiveallungermermontheLononethatcurrentfromthe$032consupportdocumentedA$03130$030next$030thecreasingexistenceisavantia$035

DASH / USD, 4-hour chart analysis

Dash is among the strongest from a short-term technical point of view, trading a bullish consolidation model just below the key $ 200 level. , the currency failed to show strength today during the Ripple demonstration, and this still indicates a dominant bearish trend in the segment. With this in mind, traders should expect further positive signals before entering new positions, especially as no bullish leadership has yet been developed.

IOT / USD, 4-hour chart analysis

IOTA is still weaker than average, along with NEO, EOS and ETC, and the currency is still just above the August lows, clearly in a broad bearish trend, despite holding above the lower limit of its short-term range. A lows test is likely in the coming weeks, and the currency remains on the sell signals on both time frames, with support found between $ 0.455 and $ 0.475 and close to $ 0.405, and with key resistance ahead of $ 0.57 and $ 0.64.

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Disclaimer: The analyst possesses cryptocurrencies. It holds investment positions in currencies, but does not carry out short-term or day-trading transactions, nor holds short positions on any of the currencies.


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