Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Domithra on April 12, 2018, 11:46:05 AM
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The market for almost all the major coins looks reddish. One relief factor that the market has to offer is that the prices of the coins have not dropped further down and hit the bottom but has rather been able to stay above the support zone. The cryptocurrency by the name Verge [XVG] has stood apart from all the other cryptocurrencies by gaining a 12.83% in the last 24 hours. Another cryptocurrency by the name Ontology [ONT] also seems to be having a bullish trend with a 19.82% gain in the last 24 hours. VeChain [VEN] and TRON [TRX] also look green as they have refused to give in.
Our Sentiment Analysis segment contains sentiments from around the world which were gathered after interviewing a group of investors, miners, journalists, skeptics, and influencers, and are combined together in this segment. The opinions that we select are filtered by discussing it with our team to ensure that only plausible comments reach our readers. This analysis will be on the second most popular cryptocurrency in the world which is Ethereum [ETH].
Ethereum [ETH]
Ethereum had a dip in its price yesterday like most of the cryptocurrencies, where it was trading at $429.25 and it fell to $391 swing low. At 12:04 PM UTC, Ethereum was trading at $396.71 with a market capital of $39.167 billion. The coin appears to be struggling to get back above $400 which is crucial for the coin at the present time. ETH/USD is holding the $385 level and the 100 hourly simple moving average. The coin seems to be oscillating between two major points which are $390 and $400.
Ben White, an Ethereum investor from Adelaide says: The time is not right to sell Ethereum right now but it is experiencing a selling pressure and a huge sell wall has been formed on the exchange platform Bitfinex. ETH charts show that it could possibly go up to $481.34 and once it reaches that point, a bullish trend is expected.
Chris Lewis, an altcoin miner from Seattle says: You may buy the coin right now and sell it right at $600 as a breakout can happen. There is a major resistance at $877.37. The coin is currently trading below the point of convergence of the trend lines. But Ethereum could possibly be a winner.
Sam Hall, a Financial Advisor from Liverpool says: I cannot be sure if the charts show a falling knife or a bounce or a just consolidation! If it is just a consolidation then how much longer should we expect? There has been another bat pattern which was formed which could take it to $476 mark.
To conclude, 57% of Ethereum respondents are bullish and they expect a great deal from Ethereum in the near future. Most of them are ready to HODL till then. However, 43% of Ethereum respondents feel bearish because of its inability to break out from this long-term bearish trend.
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Of course we will see another ATH for ETH and other cryptocurrencies. I don't know when but there is no other way. This technology is evolving and we can only grow bigger. Market cap will be higher every year. There is nothing what can stop ETH from grow. There is so many other projects started on smart contract protocol that I still don't understand why ETH is number 2. ETH should be number one or equal with BTC at least.