The Ethereum now walking on the edge — a cryptocurrency for that day is under the threat of a drain below a hundred dollars. For this to happen, the bears have to do quite a bit. Enough to cause a sharp drop for the mass liquidation of open positions on the Ethereum, which will entail a flight ETH down to the support zone of $ 70.
Fundamental news is also do not play into the hands of the bulls. The profitability of mining Aldona plummeted over the past couple of months, so now the market is in a phase of strong depression.
In a scale of 1-weekly chart the last support levels for the asset remain line 70, 50 and 38 dollars. Experts say the Platform, in the worst scenario, Ethereum may even drop to one dollar. Let’s hope that this will never happen.
What to expect now? First, for growth rates at least in the medium term, buyers need to overcome the mark of $ 130. Then this opens the way to 160, 200 and 250 dollars. However, signals for a trend reversal yet, so the safest way to play it safe and prepare for the coming fall.
1-daily chart, the picture does not look so pessimistic. There’s even some hope for a good pullback to 160 dollars. However, this can only happen once Bitcoin will change its trend.
Trading volumes during the discharges is not yet inspire confidence in the near Bollene. Now, most traders should closely follow the line of $ 70, which will be the rebound of the asset in case of its rapid fall. Of course, if you invest in Ethereum in the long term, buy altcon you can even at the market price.