Ethereum Price: Predictable and Under Performing by scaredycatguide

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crypto · @scaredycatguide · Apr 5 '19

$4.94

Ethereum Price: Predictable and Under Performing

<center>https://mentormarket.io/wp-content/uploads/2019/04/Capture-1.png</center> <br/>Did everyone have some fun the past 48 hours with the crypto move?  If ETH is your favorite coin then maybe it wasn't all that fun.
<h4>Failed Breakout</h4>
Ethereum did make a push and even pressed through it's big resistance level.  However, unlike BTC and LTC it did not maintain and level up.

Looking at the chart in this post you can see ETH blasted through, well maybe blasted isn't the right word, it pushed through the 168 area resistance, but unfortunately could not close above it and came tumbling back down with the rest of the market in last night's profit taking bonanza.

So there it was, closing the candle below the resistance, just a brief tease to all the ETH hodlr's.

I actually sold some in the low 160s anticipating resistance and felt like a big dope for a few hours there.

Ethereum is going to need another push out of the market to break through that resistance are and level up because its price action is showing relative weakness to its peers.

Just my opinion though, happy trading! <hr />
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@builderofcastles · Apr 5 '19

i bought an ETH so that i could buy some ERC20 tokens, such as Veri and Populous.

The ERC 20 tokens per ETH are pretty much at their lowest point in the chart.  Do you feel they could go lower, as ETH shoots up?  If it shoots up.

👍 cheneats

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@scaredycatguide · Apr 5 '19

I feel like there is so much supply side of ETH from all the people/companies that took ETH for ICO's last year.  Just huge bagholders that could dump at anytime.  I mean it is people that represent other coins holding a ton of ETH, for instance the whole EOS gang.   Just doesn't seem like a good scenario.

👍 mitchelljaworski

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@ddrfr33k · Apr 5 '19

What's your take on Bitcoin right now? Are you currently invested in it?

Posted using [Partiko Android](https://partiko.app/referral/ddrfr33k)

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@scaredycatguide · Apr 5 '19

I been invested in it since 2016 and have always had around 1 coins.  Sometimes a little more when I want to trade in and out of it.

So far we have started to consolidate sideways after this big move.  That would be a big positive sign.  Need another candle close or two on daily for it to be legit consolidation though.

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@newageinv · Apr 5 '19

I am looking to start scaling in as I think it will be a good long term investment when staking becomes an alternative.

Posted using [Partiko iOS](https://partiko.app/referral/newageinv)

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