RATE Group | Long-Term Outlook For Ethereum: August 24, 2018 – Ethereum USD (Cryptocurrency:ETH-USD)
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Long-Term Outlook For Ethereum: August 24, 2018 – Ethereum USD (Cryptocurrency:ETH-USD)

27 Aug Long-Term Outlook For Ethereum: August 24, 2018 – Ethereum USD (Cryptocurrency:ETH-USD)

Posted at 17:08h in Ethereum News by

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Ethereum (ETH-USD) shed more weight in this week’s trading, on the back of reduced demand (lesser number of ICOs) and also from potential ICO cashout effects. Many investors who earned bonuses from ICOs launched in 2017 and early 2018 are still selling off their excess holdings for ETH, and then converting ETH to liquid cash. So what does the next week of trading hold for ETH?

Fundamental Outlook

The US Securities and Exchange Commission rejected 9 ETF applications, citing lack of sufficient protection for investors in the structure of the Bitcoin ETFs. Though it was disappointing for the crypto markets, it only had a minor dampening effect on prices as this decision had already been priced in. The opening is still there for an Ethereum ETF; which Vitalik Buterin (Ethereum founder) has endorsed, though with hesitancy about its importance.

Technical Outlook

The technical analysis for ETH/USD starts with the weekly chart. This chart indicates a number of important points.

ETH/USD…

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