Self explanatory with possible support lines.
Also Fib Chart based on last lowest price on 16th July 2017 at $130.29 and highest price on the 1st of September at $396.88. 61.8% Fib level rests at $232.11 and 78.6% Fib level is at $187.32.
During the last 'crash' on the 16th of July, ETH fell way below the 78.6% Fib level. If history repeats itself, then we may get the chance of buying ETH below $188.
Always consider the effects of Bitcoin's price. If BTC falls, everything falls. So if BTC falls to the 61.8% Fib level, which sits at $2988.93 (GDAX/Coinbase prices), then as a consequence we may even see ETH touch sub-$150 levels.
The current ETH price (just like any other alt) is affected by the falling BTC price. This in turn is affected by the ongoing issues with/possible future bans of Chinese Exchanges.
Chain of events and linked consequences. This is the golden rule. ALWAYS look at BTC and ongoing developments before making a decision in the crypto-world.
Consider this as a very good buying opportunity.
Also Fib Chart based on last lowest price on 16th July 2017 at $130.29 and highest price on the 1st of September at $396.88. 61.8% Fib level rests at $232.11 and 78.6% Fib level is at $187.32.
During the last 'crash' on the 16th of July, ETH fell way below the 78.6% Fib level. If history repeats itself, then we may get the chance of buying ETH below $188.
Always consider the effects of Bitcoin's price. If BTC falls, everything falls. So if BTC falls to the 61.8% Fib level, which sits at $2988.93 (GDAX/Coinbase prices), then as a consequence we may even see ETH touch sub-$150 levels.
The current ETH price (just like any other alt) is affected by the falling BTC price. This in turn is affected by the ongoing issues with/possible future bans of Chinese Exchanges.
Chain of events and linked consequences. This is the golden rule. ALWAYS look at BTC and ongoing developments before making a decision in the crypto-world.
Consider this as a very good buying opportunity.
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