Using a fib spiral and identifying the strongest trend on the chart we can discover where price reverted to a bullish state Ethereum in my own opinion is ridiculously undervalued, any buy at this price is a steal Keep adding while price is lower!
Not exactly a charting question.. If ETH is used to power tokens like DAI and possibly ETH sub tokens won't that cap the price? If the price of ETH is too high who will spend ETH to use DAI etc?
Bixley
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@erikofthewild, Im not sure man, im just here for the charts haha, dont look into fundamentals and that too much :P soz
etw01
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@Bixley, No prob, wasn't trying to put you on the spot. It doesn't make sense to me unless the value/use of the ETH subcoins also sky rockets. DAI is a stable coin which is powered by ETH so I don't think it could.
Love your perspective on charting.
rajasmasala
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@erikofthewild, MKR which is the governance token of DAI would and is skyrocketing. You can make money by earning interest or fees on various decentralized finance activities using DAI. Eth gas fees are pretty high right now but if you have larger transactions like say a few grand the percentage gas fee will be much less (as the fee is defined by the transaction type, not the amount in the transaction).