Course Ethereum may fall substantially after Constantinople. What’s the problem?

Last month the Ethereum brought a good profit, rising from 104 to 150 dollars in a very short time. The formation of the uptrend, the cryptocurrency is most likely due to the upcoming hardforum Constantinople, the activation of which will happen in a week.

However, many analysts warn about the old expression “buy the rumour, sell the news”. In other words, with the approach of the event and the likelihood of draining the Ethereum multiplied.

Dump for Constantinople

At the moment Ethereum is trading at 147 dollars. For the past day, the cryptocurrency has not changed its value. For several days the ETH can not penetrate the resistance area of $ 150, which negatively affects the growth prospects of the coins in the near future.

Economist Alex Kruger noticed a suspicious situation in the ratio of longs and shorts at the ETH/USD.

The last time this ratio of long and short positions were formed in November of 2018, just before the plummeting of the stock market. The Ethereum could dramatically cheaper after Constantinople, as was the case with many other coins during hardforce.

Trader under the name UB waiting for Ethereum to the level of 122 dollars.

A schedule like this, I wouldn’t long trades. Wait for pullback at least to 122 dollars. Yes, I know about Constantinople, but I trade based on charts.

But in Analytics under the name Hsaka has more optimistic forecast, he is confident that the activation of hard forks will have a positive impact on the price of the asset.

Note that Constantinople can really be an unexpected factor in the new predictions of Ethereum. From the point of view of technical analysis an asset also does not look attractive for opening a trading position right now.

What is happening with the exchange rate ETN follows in the ranking of cryptocurrencies.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. TO NOT STOP!

Leave a Reply

Your email address will not be published. Required fields are marked *