Ethereum (ETH) has been traded in a bullish gartley model since the beginning of 2017. The price has now returned to the trend line and has already found strong support. The chart above for ETH / USD shows that the 10-week EMA is now triggered to exceed the EMA at 21 weeks. When that happens, we will see a big push in the price of Ethereum (ETH) and the strong start of a new cycle. The volume has steadily decreased since the beginning of the correction and has now reached a point where there is an inversion. Even the number of courts has decreased dramatically in recent weeks. This shows that the bearish resolution is badly wounded and that the market is preparing for a recovery. Apart from the short-term uncertainty, the general framework for ETH / USD is very clear and it is only a matter of time before seeing a strong reversal.
Ethereum (ETH) is not just a cryptocurrency; It is an invaluable technology that could help revolutionize our future. If we consider blockchain technology similar to the Internet, Ethereum (ETH) is something like Windows. It is a platform on which it is possible to build the whole world on the Internet; only this time will be Internet 2.0. Big companies like Microsoft and eBay are already part of the Ethereum Enterprise Alliance and it's only a matter of time before they start using Ethereum (ETH) in one way or another. Blockchain technology is the future and most of these big companies are now light years behind projects like Ethereum (ETH). They simply can not afford to experiment with their blockchains at this stage. To remain competitive, most of these companies like Microsoft or eBay must use existing blockchain technologies like Ethereum (ETH) because they have already been tested and tested. Once these companies start using Ethereum (ETH), prices can be waited for enormously.
Most blockchain fans often mention how this technology is bigger than the Internet or the dot com boom. Four years ago, it would not make much sense to many of us because we did not really know what was possible. Today we know what is possible and we can see what will happen in the months and years to come. The way in which cryptocurrency and blockchain technology is larger than the Internet is that blockbuster tokens or cryptocurrencies are not like shares issued by corporations. They are also like the currencies issued by governments and central banks. So, the blockchain technology is aimed at two billion dollars of markets, forex and shares. Ethereum (ETH) is the largest platform of smart contracts and a convenient payment method will be at the forefront of this upheaval. The price of Ethereum (ETH) has already found a fund against Bitcoin (BTC). The weekly chart ETH / BTC shows that now the price has fallen from the wedge that falls and will probably rise above the EMA at 10 weeks in the coming weeks.