RATE Group | Ethereum’s price may have registered a long-term bottom
72681
wp-singular,post-template-default,single,single-post,postid-72681,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum’s price may have registered a long-term bottom

20 Dec Ethereum’s price may have registered a long-term bottom

Posted at 04:24h in Ethereum News by

[ad_1]

Things are not looking Merry for Ethereum over this Christmas period.

After initially being one of the standout performers of 2019, ETH’s valuation suffered owing to major slumps over the past two months. However, despite losing all its positive yield in 2019, Ethereum’s current price may be highlighting a long-term trend reversal for the world’s second-largest crypto-asset.

Source: Twitter

According to Josh Olszwicz, a popular crypto-commentator, in the past, ETH registered major lows 5 times, out of which 3 led to a bullish divergence.

It was also observed that Ethereum’s bounce that surfaced in the last 24-hours from its 7-day low resonated with low RSI levels of 21. Such levels have paved the way for long-term bottoms for the 2nd largest crypto-asset.

Another Crypto Trader, Scott Melker, remained optimistic about Ethereum’s price as well after observing a prominent descending channel on the weekly time-frame. The trader suggested that ETH’s reaction…

[ad_2]

Source link