A Global Perspective For The Second Cryptocurrency In The Market
A Global Perspective For The Second Cryptocurrency In The Market

By Rubika Ventures | rubikaventures | 17 Sep 2019

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First of all, we apologize for not having the exact tools to better track this great potential.

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We say this because for the last week he had a recovery of approximately 28% since the last reversal, and due some news.

We also want to express that this analysis is not for the short term. Contrary to that, it’s for long term and thus achieve better profits over time and spending less energy.

It currently has a Market Capitalization of $ 21.3 M and is the second largest cryptocurrency on the planet.

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When it was thought by its founder, it was thought with the objective of generating decentralized applications; and in recent years it has been the engine for the development of the decentralization of traditional markets.

If we do a previous analysis we can notice that it is now that the price is beginning to have a new trend reversal in relation to Bitcoin, as the previous graph shows.

That is why we should not worry about what we lose. Rather, for what we can win with high security.

Some Important News To Keep In Mind

In recent days Ethereum has recovered because some news has made the community a little more active. Among those we highlight:

  • Blockchain Scalability Solution Developer hubii Joins Ethereum Enterprise Alliance, as reported crowdfundinsider, what wrote that hubii, the company behind the development of the nahmii scaling solution for Ethereum, has joined the Enterprise Ethereum Alliance (EEA), according to a press release shared with CrowdFund Insider;
  • Santander Utilizing Ethereum To Offer Blockchain Bonds as wrote blockchainandy. Also, santander successfully issued $20 million of bonds fully backed end-to-end on the Ethereum blockchain;
  • And CasperLabs raises $14.5 million to build a better Ethereum. Cryptoslate reported that CasperLabs, a startup attempting to crack the blockchain scalability problem, raised $14.5 million in a series A round to build a faster, safer, and more efficient proof-of-stake blockchain — a lot like Ethereum.

But what we want to highlight here is the complete study that coinmetrics brought us this week.

Full Statistics To Highlight

The report says that as of September 15th, Ethereum had $182,899 daily transaction fees compared to $185,993 for Bitcoin.

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In another hand, coinmetrics says that USDT on OMNI was growing over most of the course of 2019. In fact, USDT transaction count even began hitting new all-time highs starting around April, 2019, peaking at 91,513 on August 7th.

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But since then, USDT-ETH has skyrocketed. The Ethereum version of Tether hit a new all-time high of 187,912 daily transactions on September 9th. 

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However, USDT-ETH is generating so many transactions that it recently accounted for over 25% of all Ethereum transactions on September 8th, and has consistently accounted for more than 10% of all Ethereum transactions since mid August, says the report.

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Another important aspect is that Ethereum total daily gas also recently reached an all-time high, likely due to USDT-ETH’s recent surge. According to ETH Gas Station, Tether is the biggest gas spender out of all Ethereum contracts over the last 30 days.

In general, the report tells us that the network is gradually improving every day.

But now let’s find out how we should put our money at stake if our intention is to support the project or continue supporting.

Short Term Perspective

In the short term we see a high reversal trying to break the resistance near 0.0194–0.0195.

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The problem is that most of the indicators show that the price is overbought. That is why we recommend waiting for a lateralization.

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RSI marked around 86 points, indicating an area close to a reversal contrary to a high trend.

MACD showing a possible crossing of means. and if our calculations don’t fail, a possible price support can be around 0.0188.

Medium Term Strategy

If we analyze the daily graph we can notice that this point is not a recommended area of entry. Gradually the indicators will show an overbought zone.

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If we see well the price can correct very close to 0.019–0.0188. So it is good to remain calm and watch carefully.

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RSI marking around 55 points. An area that is considered neutral. But knowing well that if we attract the attention of many people to invest, it can soon exceed 70 points. And here we already know what happens next.

In the case of MACD, it simply shows the accompaniment of the reversal trend. But it will not take long to generate a new correction crossover.

Our True Strategy To Win A Lot Profit

Looking at greater graphic times we can notice that the price is just beginning to revert after the great fall in recent weeks and months.

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For example, if we look at the weekly chart, we can see that it can be a false breaking of resistance, which could possibly cause the price to return to test some support that we have already said above.

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But the indicators begin to show a different side. A side of opportunity.

In the weekly chart, RSI marking around 32 points, which indicates that the price is oversold and we can accumulate for the long term.

In the next few weeks, and if the trend continues to be a positive reversion, the MACD could apprehend a next crossing to accompany that trend.

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Already for the monthly chart, which the holders prefer, what is explained in the weekly chart agrees on some aspects described.

The only different thing that we would know is to keep cautious and wait for the sales movement to happen first to consider an entry.

A Clear Conclusion

That is why our strategy is in the range of 0.0177–0.0194.

Recall the strategy that really worked is to buy the supports and sell the resistors.

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With all this, we strongly believe that Ethereum has a lot of potential and whoever heals and accompanies the Bitcoin trend as some times it has been doing.

And yet, we will gradually update this idea to know the best buying media and the best resistances to sell and make a profit.

Final Observation

At the time this article was written we had done a previous analysis of Ethereum and with that our premium members managed to obtain 8% of profits so far. 

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Therefore, when considering this case study in your analysis consider that the values could change from one day to another.

So, stay with us. With Love 💛, Rubikators Team.

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Rubika Ventures
Rubika Ventures

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