Although it has been a very brutal year for all cryptocurrencies, the pain is all but over. At this point, it seems that the price of Ethereum is destined to head under $ 150 and potentially much lower in the next few hours. This most recent price stop is not a good sign for the future of this project, even if all cryptocurrencies are under a lot of pressure right now.
The Outlook of Ethereum prices becomes distressing
No cryptocurrency or digital resource can withstand the current market attack. All major markets are crashing under bearish pressure. Bitcoin is, once again, dragging all currencies with it, which is how things usually evolve during these difficult times. For Ethereumthe prospects are rather gloomy, as they may not stay above $ 150 for much longer.
In the last few hours, the price of Ethereum fell 10.6% in USD value and 6.2% in BTC value. The Bitcoin deficit is expected to continue to grow, which will decrease the value of the USD accordingly. If this trend continues for a few extra hours, there is no reason to think that ETH will remain above $ 150 for a long time. Leaving this threshold below would be extremely worrying, as this value has not been registered for over a year.
Looking through social media, there seems to be real concern about the future of Ethereum. Artificial Intelligence The investor is a bit delirious, as he expects the gap between XRP and ETH to increase. One must keep in mind that XRP is also wrong at the moment, even if Ethereum is definitely getting worse. The XRP has surpassed Ethereum in the market capitalization well before this new decline, but the difference will only become more evident going forward.
– artificial intelligence investor (@dlefcoe) November 19, 2018
Danny Beanstalk, one of many people who prefer technical analysis of anything else, would not advise people to buy ETHs right now. In fact, it seems that ETH buying support is not where it should be, and the price is most likely not worth more than $ 150 for a long time. If this level is interrupted, a sharp decline in the two-digit range becomes more likely.
Possible knife to take $ eth here hitting an old daily support with bullish divergences on RSI and OBV. However, this support does not seem so strong and with $ BTC It looks ugly I'm just a spectator for now. https://t.co/EFDTJPtIiG#crypto #ethereum #eth #bitcoin pic.twitter.com/4oRyEVT4zC
– Danny Beanstalk (@DannyBeanstalk) November 19, 2018
The competition is also heating up for Ethereum, which will not make this ongoing struggle any easier. Although we must keep in mind that competition is always a good thing in the world of cryptocurrencies, it remains to be seen what the future will be. Team X-Block is working on a new virtual machine, which makes the execution of smart contracts simpler and more efficient than Ethereum. An interesting idea that can have major repercussions in the future.
Team X-Block developed the world's first wasm virtual machine based on golan language, making the execution efficiency of X-Block smart contracts more than the Ethereum intelligent contract. pic.twitter.com/y26azRfVm1
– X-Block Official (@XBlockOfficial) November 9, 2018
As the dark clouds gather once again on the cryptocurrency industry, it seems certain that Ethereum will continue to be mistreated. This has been the fate of the currency for some time, and the trend only gets worse as time progresses. Only $ 6.73 separates ETH from the $ 150 level, which is not so much in the current circumstances.
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.