ETH is looking like it will mirror previous behavior - short and long term
Weekly chart does not look extremely bullish at this point in time but there are signs approaching.
There is a build-up to reach the turning point for the market to reach a bullish saturation. (Consolidation)
The market was eagerly trying to kick start the bull-market but was stopped out at 355$ with people who anticipated that this was to early for such growth - the market was indeed not ready.
We can see that the senkou span supporting the ride down to the current support, and a cloud squeeze is imminent moving forward.
I believe that we are in the early stages of accumulation and next markup for a prolonged bullishness of crypto currency again.
As usual, this marked is controlled by fear and greed, plus a handful of large operators that are trying to influence the price action and affecting the perception of Crypto to the retail market.
Volume is low and trending down, but price is moving with high volatility suggesting that market participation is declining.
This is one of the reasons i see bulls stepping in with large volume to make the market more interesting for retailers again.
Yellow line is illustrating a ascending support that lines up pretty well with the bottom of the senkou span, if this theory holds up we won't see Ether below 150$ again, and for now 170$ seems to be a big interest area for buyers.
For this reason I have been adding and will continue adding Ether to my portfolio.
With PoS and Ethereum 2.0 coming up, it would be a mistake not to at least add a small portion of my investment in this coin as the long term prospect is looking great.
Have a nice day
Weekly chart does not look extremely bullish at this point in time but there are signs approaching.
There is a build-up to reach the turning point for the market to reach a bullish saturation. (Consolidation)
The market was eagerly trying to kick start the bull-market but was stopped out at 355$ with people who anticipated that this was to early for such growth - the market was indeed not ready.
We can see that the senkou span supporting the ride down to the current support, and a cloud squeeze is imminent moving forward.
I believe that we are in the early stages of accumulation and next markup for a prolonged bullishness of crypto currency again.
As usual, this marked is controlled by fear and greed, plus a handful of large operators that are trying to influence the price action and affecting the perception of Crypto to the retail market.
Volume is low and trending down, but price is moving with high volatility suggesting that market participation is declining.
This is one of the reasons i see bulls stepping in with large volume to make the market more interesting for retailers again.
Yellow line is illustrating a ascending support that lines up pretty well with the bottom of the senkou span, if this theory holds up we won't see Ether below 150$ again, and for now 170$ seems to be a big interest area for buyers.
For this reason I have been adding and will continue adding Ether to my portfolio.
With PoS and Ethereum 2.0 coming up, it would be a mistake not to at least add a small portion of my investment in this coin as the long term prospect is looking great.
Have a nice day
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