Ethereum down trend, will it continue?

CryptoGuru Level X³

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November 7, 2016, 8:15 pm

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Ethereum down trend, will it continue?

I have been trading a few currencies and ETH is one of them. I was able to get in under 10.70 and now im waiting on that 11 dollar price it was at a few days ago. The current price is 10.67 and thats low. Ethereum has been on such a down trend its starting to get scary but will it continue? I think this currency is starting to level out and we will see increase soon. Check out the chart below:


Here i have 2 slopes one on the top shows the down trend we have been on for the past 24 hours. The one on the bottom shows the last lowest point and the point its at now do you see the tide turning? I am hoping that with the next update to ETH we will see the price hit over 11 bucks within the next few days. If we continue to see it leveling out for the rest of the night and increase tomorrow then we could see it sooner. I also think that the election has something to do with the recent fall in trading volume.

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

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Lynne

Jkeyz2 I was actually going to ask you how you think the USA elections will be affecting cryptocurrency! I am sure this election is going to be affecting all sorts of things all over the world at the moment.

I hope Ethereum rises again and continues to. Please keep us updated as once again I am very interested. I wonder of Ethereum is also available for trading at eToro? Now might be a good time to buy since it is so low!

0 8 years ago

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CryptoGuru

The price goes lower than 10.60 i would say buy it. If you purchased it already at a higher price i would say just hold onto it because the price will fly in a few weeks. The election did affect the price on ETH and other currencies. When people found out that Trump won Bitcoin erupted into this $40 dollar increase per coin. I think politics and world events weigh in heavy when it comes to crypto currency.

0 8 years ago

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Cristian

Funny, today I was reading a really interesting article about Ethereum and smart contracts, cryptocurrencies and a new type of social media networks that will be born out of this idea. You can read it here: https://medium.com/@dragosroua/decentralized-social-media-networks-that-pay-you-to-use-them-current-situation-efe09d0d6c7d

Seems there are a couple of new players in town this year and things will grow quickly once one of them hits the mainstream.

0 8 years ago

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CryptoGuru

Yes they do have competition but they have a long way to go in order to be able to achieve what ETH has done thus far. If Ethereum can fix the recent bugs and prove that they are leading the way with this kind of tech then we will see an increase in price very shortly. Ethereum gaining new competitors is great for the currency it shows more interest in this type of program. We all know what happens to price when more people show interest. Good article and thank you for sharing it!

0 8 years ago

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hitmeasap

I've actually never really understood all of these different cryptcurrencies.. Bitcoins, Steem, Steem Dollars, Ethereum etc. etc. Seems like there's literally hundreds of crypto's out there. Dogecoin, or "doggy-coin" as I've heard people call it..

Ethereum on the other hand, was rather actively mentioned on Steemit. As you all know I spent some time on Steemit a few months back, and I had some decent results from it. Anyways, that was the first time I heard about Ethereum. And nowadays, I can see you, jkeyz2, mention it a few times per week or so. - Is that the next big thing or something?

0 7 years ago

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overcast

Ether seems to be getting a lot of traction. So think of ether as future investment. Because other currencies are choosing Ether for the ICO. So that means they are not relying on the bitcoin. So surely ether can be one good option for investment. Though it'd be harder to keep up with the ether these days. I'd surely pay attention to the price change though. It's definitely worth investment for long term.

0 7 years ago

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Corzhens

It looks like this Ethereum is gaining ground because I have come across several topics about it. One thing I have noticed in cryptocurrency is that it works just like the stock exchange. That you buy some shares of stocks of a certain company in the hope that its value will increase in time. With cryptocurrency, it’s just the same so I don’t think it is a sound investment because you can be left empty-handed when the currency value crashes.

0 6 years ago

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