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Ethereum (ETH) has already been the victim of a brutal market correction. However, recent developments show that the price may still fall to $ 103 for a new annual minimum test. That said, ETH / USD now has strong support for the trend line that could prevent this from happening. Instead, we could see a rally around $ 150 towards the beginning of 2019. However, the possibility of a new annual minimum test is still there and must be taken into account for the inclusion of positions. The last few weeks have seen a significant return on volume on the market and the commercial interests of Ethereum (ETH) are on the rise. The RSI for ETH / USD also shows that we have hit the bottom or we are very close to the fund. The risk / reward for a long-term position at this point is very interesting.
Since the start of the correction, Ethereum (ETH) has been trading in a downward channel. The price has now reached the bottom of that downward channel. The only way out of this channel would be if the price would fall below $ 100. So far we have not seen anything like this happen and the likelihood of this happening in the future remains low. However, previously, when the price reached the bottom of this downward channel, we would see a strong recovery towards the top of the channel. However, this time it seems that there are no bulls in sight. Bears become safer from day to day while the bulls remain shattered. A lot of investors who bought Ethereum (ETH) about $ 1000 were sold at major losses or are still waiting. They do not feel inclined to buy more because they fear a further disadvantage.
Sometimes it is important to put everything in perspective in such a way that there is no room for emotions in the decision-making process. If we look at the daily chart above for ETH / BTC, it is clear that Ethereum (ETH) has now touched the Bitcoin fund (BTC) for the third time since the end of 2017. The trend line supports ETH / BTC currently held to long time and it is extremely unlikely to be broken at this point. Also, the 21-day EMA is now very close to the price and the ETH / BTC can easily break above it around the beginning of 2019. That said, it will take a long time to see a new one historical maximum for Ethereum (ETH) yet.
There is a time to buy and there is a time for sale. A lot of people who bought around August or September last year and sold around January 2018 made a killing on their investment. However, there was an even better time to buy and this was after the 2015 correction. If they had bought then, they would have seen what is possible in this market. Right now we are in the same phase as when we were in 2014 and now we are heading towards the same stage in 2015. This is now the ideal time for the accumulation at the best possible price for the long term. In five to six months, this opportunity will no longer exist.
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