ETH/BTC
Ether seemed to be disproportionally slaughtered during the 2018 bear market. This was caused by the over-investment of the ICO craze that used Ether as an onramp. I'm pretty confident that the majority of the sales pressure from everyone cashing out of these ICO tokens has subsided, and the diminished price of sed ICO tokens seems to validate this opinion. The question is where will Ether move from here. Since it is still the leading blockchain for developers I believe the future is bright.
Looking at the daily chart here and I see a decent opportunity. We are in the process of retesting a previous short term high around .022. If we break through this resistance area (red bar) the next logical resistance would be around the .026 zone, which not so coincidentally will be testing the 200 daily MA. This is a potential ~20% profit with limited downside since we are pretty solidly within a longterm accumulation zone. This process could take a month or so but if the altcoin markets do keep up this recovery I'm pretty confident it will play out this way.
Happy trading!
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Looking at the daily chart here and I see a decent opportunity. We are in the process of retesting a previous short term high around .022. If we break through this resistance area (red bar) the next logical resistance would be around the .026 zone, which not so coincidentally will be testing the 200 daily MA. This is a potential ~20% profit with limited downside since we are pretty solidly within a longterm accumulation zone. This process could take a month or so but if the altcoin markets do keep up this recovery I'm pretty confident it will play out this way.
Happy trading!
Like, comment and subscribe for more!
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