30 May 2017

Ethereum Current Price Analysis


 Ethereum’s price fall of more than 50 percent is said to be caused by Large-volume speculation. Now the question everyone is asking is these " Is the price going to fall again?".

Ethereum price analysis 2017

Profitable situation for the bears

Recently, over 80 companies have joined the Enterprise Ethereum Alliance (EEA) and this is definitely good news for the Ethereum community. Many understand this and expect a consequent reaction in the price. But news cannot be a decisive factor in trends. That is exactly because the current situation is profitable for the people looking to take their profits. The large volume of buy deals at the peak of the trend is a great opportunity for big sell deals.

Ethereum analysis 2017

Ethereum Long-term Downward Rebound

Ethereum price has rebounded from the $100 area, given that a long-term reversal has not yet taken place. The entire fall can be considered a correction towards the entire upward trend from $6. The long-term uptrend has ended, which can result in a protracted flat. In regards to the current growth from $97, we can point to a level near $132, where the highest demand is present. Given a new fall, Ethereum price is likely to stop at that resistance line. If a downward reversal doesn’t take place, further growth will have better chances.

Source: Cointelegraph

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