The Ethereum fell to $ 200. What will happen with the course of the week — the answer is technical analysis

Just a week ago, the second by market capitalization, the cryptocurrency was able to set a new price record. A few days later the air got above $ 200, while large trading volumes of coins were a good sign for the trend change. On the chart Ethereum is still the trend continues for another wave discharge. This writes NewsBTC.

Weekly chart

In the long term cryptocurrency has all the makings of the new bullrun. This is evidenced by the record trading volume on a weekly chart. It seems that buyers have determined the point of entry into the market and most of them expects further growth in Ethereum.

However, the situation is still in the hands of the bears. After hitting a new annual low of an asset could not break through resistance at $ 300 — it prevents start of a new uptrend.

1-day schedule

The situation on the daily chart also looks promising. Cryptocurrency is still in a protracted downward trend that originates from the level of $ 860.

The asset failed to gain a foothold above $ 200, so it is possible a further drop. Rather, Ethereum can form a double bottom at the level of the annual minimum.

From a fundamental point of view, the Ethereum, you can start to buy them. Cryptocurrency has enormous potential, developers of the Ethereum Foundation is actively working on a transition to a PoS and integration of new solutions in the blockchain.

But economist Jeremy Rubin thinks differently. In his opinion, the time after which the holders of Ethereum was ready to sell all your coins has dropped dramatically. The reason — a massive drain of assets ICO, team ERC-20 tokens do not want to look at a gradual reduction of their capital.

For the last day of the ETH fell by almost 8 percent. At the time of this writing the coin was offered $ 200. What’s next? Share your predictions in cryptodata of hontarov.

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