I think we're currently seeing a short squeeze causing Ethos to shoot over 100% in the last hour. Traders who sold in the 4000's are currently covering their positions. RSI in all time frames are very oversold. I see price going back to the 3000's in the next few days. I have checked their reddit and chatboard and there is no news that would explain this pump.
Give me a like if you agree. Leave a comment if you disagree.
Give me a like if you agree. Leave a comment if you disagree.
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Correction: Meant to say overbought
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An interesting theory is possible arbitrage going on between bitthumb exch and binance. POWR was priced over 500% on bitthumb, however deposits and withdrawals have been closed for the last 6 months but was reactivated today. Traders are buying on Binance and selling on bitthumb to take advantage of the price difference.
There are 4 other coins that will have their dep/with reactivated today...lets see if the same pump occurs.
There are 4 other coins that will have their dep/with reactivated today...lets see if the same pump occurs.
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Correction: Sorry, running on my the last caffeine molecule in my body. I meant to say that BQX was priced over 500% on bitthumb. POWR is one of the coins slotted to be reactivated today though. But DYOR.
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It's taking a while longer than I expected for it to arrive in the 3000's. I still believe it will get there but will start averaging in at 4200.
*all ideas are for my own record keeping. DYOR and please trade at your own risk.
*all ideas are for my own record keeping. DYOR and please trade at your own risk.
