Ethereum ready for a big drop
Ethereum saw a phenominal rise over the past two months, but to all good things do come an end eventually.
Although Ethereum is a brilliant innovation from my point of view, all growth has its retraces, and Ethereum will get its fair share.
We can see that the logarithmic price trend has finally breached yesterday, showing increasing sign of a trend that's been exhausted. IPO buyers are now up 30-50x on their investment and when the trend does change, this could have a cascading effect on downward price pressure.
I do believe Ether is here to stay, but if you're looking to buy in, I would patiently wait until more favourable prices present themselves. When the time is ready, it will show. I wouldn't knife catch the areas I marked out in my chart, as I see those simply as minimum targets for a short here.
Although Ethereum is a brilliant innovation from my point of view, all growth has its retraces, and Ethereum will get its fair share.
We can see that the logarithmic price trend has finally breached yesterday, showing increasing sign of a trend that's been exhausted. IPO buyers are now up 30-50x on their investment and when the trend does change, this could have a cascading effect on downward price pressure.
I do believe Ether is here to stay, but if you're looking to buy in, I would patiently wait until more favourable prices present themselves. When the time is ready, it will show. I wouldn't knife catch the areas I marked out in my chart, as I see those simply as minimum targets for a short here.
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