What Do Traders Think In Ethereum Where The Bull's Signal Is Burning?

What Do Traders Think In Ethereum Where The Bull's Signal Is Burning?

By radiationkayser | radiationgeyser | 27 Jun 2020

Cryptocoin - If you focus on the lowest level in March and look at the price movement of Ethereum, you will see that ETH is actually performing great. However, if you look at it from a macro point of view and take history further, you will realize how bad things are.

Against the dollar, Ethereum had a 85% slump. Ethereum also dropped a similar amount against Bitcoin.

So, despite the recent increase, the cryptocurrency still seems to have caught a macro bearish trend.

Now a bull indicator has flashed, increasing the hopes of the bulls. However, not all investors are convinced that Ethereum is ready to recover or whether it is a good investment.

Where is Direction in Ethereum?
Currently, many altcoins trade step by step with Bitcoin. If the leading crypto rises 5%, many altcoins show the same bullish.

While this is a short-term correlation, the long-term perspective shows a different trend.

Once upon a time analysts thought Ethereum would surpass market value Bitcoin when ETH / BTC reached about 0.12. But now, an ETH has come to a price of 0.025 BTC, which emphasizes the elegance of Bitcoin dominance.

According to a trader, the currency's expectations are ready to change technically dramatically:

“ETHBTC monthly MACD turns green and breaks long-term resistance / accumulation. It all starts here. ”

Yet many are not convinced of this technical bull signal.

Looking at the history, it shows that Ethereum had rallies in the first half of the year and strong corrections in the second.

"If ETH follows its cycle this time, it may be the highest level of the year and we may encounter a 6-month correction," says the analyst, who shares the chart below. 

This example suggests a strong correction in the coming months.

Let's not go without mentioning Max Keizer, who says 99% of the crypto money market thinks he will derive from Bitcoin soon.

“Altcoins and hard fork supporters are truth-proof,” Keiser said. I just let the market speak for me. "The market value and volume of Bitcoin is going towards 99% of the cryptocurrency market."

Is ETH a Good Investment?
Some commentators go so far as to say that Ethereum is not a good investment, as well as being a potentially weak trade.

Steven McClurg and Leah Wald stated that Ethereum's high gas costs hinder the development of ETH, preventing the necessary adoption:

“The problems inherent in gas costs have created a bottleneck, a negative network externality. The congestion in Ethereum has led to a bad user experience, especially for investors in this highly volatile environment. Because leveraged positions can be liquidated before acting. ”


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