ETH/USD(Bitfinex)
Ethereum has seen a price jump due to the hard fork fever but couldn't manage to sustain momentum and dipped 25%+ recently after the hard fork got over.
Bullish Case:
After the recent drop it tested the support level of $116-$117 and jumped(15%+) to $131 price level recently.
If it manages to hold this level $116+ and breaks $151+ price level then we might test $200 level in the coming days/weeks.
Bearish Case:
It manages to break the long term downtrend-line(dotted line) but couldn't sustain above it long enough due to recent sell off.
If it doesn't hold the $107-$111 level then it might see price level below $80 in the coming days/weeks.
Overall the recent case of price movements for ethereum has been "Buy the rumour , Sell the news" example which happen quite often in cryptocurrency.
Ethereum has seen a price jump due to the hard fork fever but couldn't manage to sustain momentum and dipped 25%+ recently after the hard fork got over.
Bullish Case:
After the recent drop it tested the support level of $116-$117 and jumped(15%+) to $131 price level recently.
If it manages to hold this level $116+ and breaks $151+ price level then we might test $200 level in the coming days/weeks.
Bearish Case:
It manages to break the long term downtrend-line(dotted line) but couldn't sustain above it long enough due to recent sell off.
If it doesn't hold the $107-$111 level then it might see price level below $80 in the coming days/weeks.
Overall the recent case of price movements for ethereum has been "Buy the rumour , Sell the news" example which happen quite often in cryptocurrency.
