0
📈 Price Predictions
744 views

ETH Price Threatens to Plummet to $175 — Be a Hodler, Not a Panic-Seller

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
ByBit
ETH Price Threatens to Plummet to $175 — Be a Hodler, Not a Panic-Seller
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Now that cryptocurrencies have started falling down, traders are rethinking their strategy. Which is the best? Play on shorts or hodl? It depends on many factors, including the cryptocurrency in question. Let’s find out why Ethereum turns out to be a nice long-term investment in the current market conditions. Read Ethereum price predictions from tradingview experts.

The fractal from the past repeats

ETH repeats the fractal

Recently, ETH was at a crossroads. That it was either forming a massive bull flag to rally more, or it was going to break down past the channel. At this point, ETH has broken down past the channel. This is not a good sign, any buying momentum has dried up. Even with ETH/BTC getting a little bit of upward movement, it still has failed to make any significant progress to the upside. All in all, in the near term this does not appear to bode well for a significant move up in ETH/USD.

RSI has also confirmed divergence and MACD has crossed and is slowing down. Both indicating weakening selling pressure and that more downside is in the cards. Maybe, just maybe we'll move sideways for some time and eventually go back up to the upside. For now, it appears that a retrace is in the cards until we get our large move up to 450. We could potentially go lower than my support zone depending on what happens.

Now, look at the charts: there’s a similar topping pattern, breaking the trendlines. The divergence, the MACD crossover look close. The price even doubled back then from $400 to $800, while price now basically did the same. You can see it did or even more depending on where you measure from. It's time to exercise caution. Now, traders are out of ETH position and will look to rebuy on a dip. See how ETH went from $800 down to $400 again? That might mean we go to the $150-175 support zone.

👉MUST READ

Top 16 Popular Ethereum Wallets to Watch in 2019

Top 16 Popular Ethereum Wallets to Watch in 2019

Next rally is around the corner

In the longer term, ETH is bullish

ETH within parallel trend channel is on the lower limit. It’s swinging around fib retracements, shifting it to the ending point of correction. RSI has been in negative trend since May 16th – but ETH built a new (double) top on May 31st – correction has been necessary to close the negative divergence.

Now, we’re expecting ETH to break through resistance (fib 23.6% / 252$) and rising to fib 50%, which also is the upper limit of trend channel (285$) and an existing swing trend line: resulting benefits: ~ 16%.

If ETH continues to follow the move of BTC (supposed a rally take part at BTC ), the rise could last on and prices around 365$ are coming in sight – on that level, ETH reaches a fib retracement resulting from the big correction in 2018. On a daily basis, the indicators are still negative, while on the 4h basis, indicators have turned up.

👉MUST READ

Ethereum (ETH) Cost Still Has Chance to Hit $300 Soon. Find Out How to Trade ETH This Week

Ethereum (ETH) Cost Still Has Chance to Hit $300 Soon. Find Out How to Trade ETH This Week

ETH in Cup & Handle

In the longer term, ETH is bullish

Look at the chart from VictorSoares: see the cup & handle forming? If this pattern validates, we might see Ethereum plummeting to $175-180 and going up again.

Final thoughts

Afraid of Ethereum’s drop? Look at the bright side: it must soar again even after touching some $175-180 point. Thus, it’s not time to panic-sell! Better hold your assets for higher profits!

Ethereum price charts by TradingView

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
235 views

XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
ByBit
  • Yuri Molchan
    📰 News

    A crypto trader analyses a crucial fractal on the chart, saying that a possible outcome could be $0.56 for 1 XRP by early December

XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Despite the active expansion of the Ripple ecosystem and signing up over 300 new customers on RippleNet this year, the XRP price remains below $0.3.

At press-time, XRP is declining by 2.85 percent and is exchanging hands at $0.24.

XRP price CMC
Image via CoinMarketCap

A win-or-bust XRP forecast

The community has been eager for the price to surge throughout 2019. On Wednesday, U.Today published a story with bullish forecasts regarding the price.

Today, a crypto trader @TheCryptHawk has shared a chart on his Twitter page. It shows a possibility of XRP surging to $0.56 in early December if the fractal depicted on the chart in in play.

If not, the trader says, the price may collapse to $0.17-$0.18 and then – down to $0.12.

👉MUST READ

Justin Sun Announces 2 Mln USDT-Tron Giveaway on OKEx Exchange

Justin Sun Announces 2 Mln USDT-Tron Giveaway on OKEx Exchange

XRP below the $0.25 support

A short while ago, XRP dropped below the $0.25 support level, where the coin had not been in several months. This is happening despite the recent Swell conference, which was expected to push the coin’s price way upward.

The community was expecting a bull run, since last year in November, as many believe, Swell triggered it. As a result, in January 2018 XRP hit its all-time high of over nearly $4.

This year, the loyal XRP community expects a bull run every now and then but all those expectations are in vain so far. This seems strange to many, since Ripple has indeed expanded its network significantly and provided a lot of actual utility cases for XRP.

Optimists are buying on the dip while the price is low (same as many doing when the Bitcoin price drops), hoping to reap their profits later on when XRP skyrockets.

 

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted