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Prospects for ETH Futures could weigh negatively on price, but it does not matter. The CFTC would ultimately have the final say and, if it were to do so, the capital could end up on CME's BTC futures. Nevertheless, Crypto facilities in the United Kingdom already offer similar services. All in all, the ETH remains stable and accumulates / distributes (depends on how you see it), but there should be an explosion in both directions, we could see prices recovering positively at $ 400 or in the dungeons at $ 150.
From the News
Perhaps because of the bad memories associated with Bitcoin Futures. With all the measures, this was a product that was touted to "revolutionize" if not push the prices of the Bitcoin towards $ 100,000, pushing prices further to mega valuation in a super-charged rally that saw Bitcoin prices rise from $ 1,000 to $ 20,000 within months. [19659004] While having the support of traditional exchanges like the Chicago Mercantile Exchange (CME) and the CBoE, it flopped horribly because for one, markets were now accessible to speculators eager to make a profit. Secondly, those who were not confident in the rally – and who could see through the smoked curtain of the Tether-induced pump – could hold shorts and long shorts at the same time.
Seeing this show last year, Tom Lee was head of Fundstrat's research Global Advisors says that the introduction of Ethereum Futures could trigger an inevitable fall in prices this time in an already very deep trend. Although the conversant sources are confident that the product will be launched as early as the end of the fourth quarter of 2018, the CFTC has yet to give its consent. Once they do, these CMere Ethereum Contract futures will depend on the underlying Gemini market which will ease the pressure on BTC. As highlighted in our latest Bitcoin analysis, BTC is struggling with short positions and hungry sellers to see it go down to $ 3000 or worse.
Technical analysis of Ethereum (ETH)
Weekly chart
In the midst of strong sellers of ETH, the They are still closing higher.At current prices, ETH has risen by four percent, but continues to fluctuate within the week ending August 19 with the week ending August 12 candlestick, obviously overshadowing any bullish attempt.
Because of the technical formations of candles, we will have a negative position on ETH and unlike BTC, there may be an underestimation in ETH considering the positive correlation and the general effect of BTC as a leading market.
However, while most expect higher highs thanks to the Last week as a candlestick bull, traders should cautiously follow the start lust only when prices exceed $ 330 or the week ending August 19. Before that time, maintaining a neutral position may prove to be prudent.
Daily Chart
Ethereum Daily Chart by Trading View
Of all the coins, ETH could be after all most of the underrated digital activities in the top 10. The fact is that the rate of expansion is lower than those with a more profound and traditionally slow liquidity such as LTC, for example. Nonetheless, the recovery in BTC could provide the necessary impetus for the break of $ 330. Otherwise and as outlined above, taking a neutral position with the eyes on $ 150 could well synchronize with the general trend of the market.
Disclaimer : This is not an investment advice and the views represent that of the author. Do your research before making an investment decision.
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