Ethereum Looks like it may be leveling out

CryptoGuru Level X³

1

November 30, 2016, 7:25 am

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Ethereum Looks like it may be leveling out

Ethereum has been getting kicked and beaten down by hackers in the month of November. Last month ETH was almost $11 on average and it has lost almost $3 in worth which is HUGE if you own hundreds of coins. In another post i mentioned to halt or to wait to buy Ethereum until the price stops falling. The Digital currency could be finding support at 8.25 meaning we could see a rally soon. I think now is the time to buy, In the last 24 hours im seeing an uptrend.

Lets take a look at the chart:



The black line shows the price that Ethereum started in the last 24 hours. The green line shows the price point from the current 24 hour low to the current price. The reason i use the lines is because its easier to show the trend. As you can see we are looking at an incline. Could the price drop again? The answer is yes if investors continue to sell we could see a drop into the 6.50 range. If your willing to take the risk and have time to watch it i would buy now and wait to see what happens if it drops, cash out as soon as you can and take a small lost because its headed towards 6.50. If this uptrend continues we could be seeing the start of the rebound we have been waiting for. How high do i think it will go? I think it could head back towards 8.50-8.75 range again.

Remember when reading my topics about trading i only give you advice based on research and market analysis. Please only use this as a guide and do not hold me responsible for any losses. Keep trading and if you have any questions leave them below.

As always thank you for reading please don't forget to follow me and like the topic.

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Lynne

Interesting Jkeyz2, so if you buy back all the Ethereum you sold previously you could buy your coins back at a cheaper price than you just sold them all for recently and make back the money that you lost when the price rallies?

Correct me if I'm wrong here? So this would be wonderful news. The way I understood it you sold them for a loss since you were concerned that Ethereum would crash completely, as in literally be no more and then you would have lost everything, so instead you cut your losses and sold just in case?

0 8 years ago

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CryptoGuru

That is a very good question my loss equaled a total of $170 dollars. If i had waited until now to cash out i would have been a 1200+ dollar loss. If i reinvested at 8.25 i would be able to buy 400 coins and it would need to go to 8.75 for me to recover my original loss which is possible. The thing is i have lost all faith in Ethereum and all trust that i had is now gone. In this case it was better to cut the loss and if i didn't have these feelings about ETH i would have gotten back in at 8.25.

I mentioned that it could go to nothing yes because that can happen. Especially when you have been having problems ongoing for months like Ethereum has. They have been having similar problems over and over again and people including me are done. The last fork or update they did didn't seem to help much because they where successfully attacked again after the fork was done. I think long term ETH is ok but short term they are in trouble and if they cant fix this issue then the future of this coin is also going to be negative.

I am really torn about Ethereum at the moment im spooked. I am not the only one either many investors have dumped ETH. We seem to be seeing a small rebound and mostly leveled out kind of trend, but they still have a long way to go before they are ready for mass adoption. Dash coin is the next big coin in my opinion they are really trying to make crypto a household thing.

1 8 years ago

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Lynne

Oh yes I can totally understand that loss of trust Jkeyz2, that must've been damn scary waiting and watching that price dropping like that while you are losing money hand over first.

I can certainly see how everyone dumping their Etheruem will make it even more unstable. Yeah I think that if there is such a risk rather go with Bitcoin since it seems so much more stable and it is rising all the time right?

Dash coin? You're going to have to educate us on whats happening htere.

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CryptoGuru

BTC is rising all the time yes we have 5-10% setbacks but overall the price has been up which is true for Ethereum overall as well but they take 15-40% falls which for me is just insane to much fluctuation for me to want to invest. I will start the Dash education soon im first getting myself well informed first.

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Lynne

Oh no, and if you invest rather than buy you can lose big time with fluctuations like that. Perhaps that is exactly why you will find Bitcoin on eToro but you won't find Ethereum. I looked for it a while back but it is definitely not there.

0 8 years ago

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CryptoGuru

Yes you can that is the rick you take. The risk is well worth the reward though let me tell you.

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Cristian

I personally won't go on investing in Ethereum after all the problems they had lately, but you are the expert, maybe quick investment and ride the wave and cash out after you are on a profit? That could be something cool, not getting to greedy but also making a safe buck.

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CryptoGuru

It all depends sometimes its best to cash out and take a los rather than ride the wave. If i would have done that in this case i would have lost 2.30 a coin on hundreds of coins translating into a loss that i would rather not take lol. When it comes to BTC ride the wave for sure anytime. When it comes to alt currencies that term ride the wave can only be used when the time is rite for it. When you use an exchange site you can cash out and buy in as many times as you want. Everything is virtual so when you cash out it just shows that you have USD in your wallet rather than BTC or whatever you sold. Im currently not trading at the moment im just holding onto the currencies i have to see what happens over the next few months.

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Corzhens

To be honest, I’m very hesitant when it comes to investing in online activities or websites especially with cryptocurrency. I still have to come to terms with the reality of the cryptocurrency. It’s not good to just jump in and join the bandwagon of miners much more in investing money. What factors are dictating the value of the Ethereum, if you don’t mind my asking. And what happens if you are left with a lot of that Eth on your hands and the value becomes zero?

0 6 years ago

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