Ethereum Bottom Formation
A quick update to my recent technical analysis of ethereum:
Ethereum is at $393 currently.
It seems a likely interpretation that the first prediction in the previous analysis is turning out to be true. There is a clear bottom formation for ethereum around $390 at the moment. The market is apparently looking for a confirmation of enough buyers at this attractive price point. However, there also seem to be more sellers than buyers currently. This could signal either a quick bounce or a longer period of price stagnation. Currently, I predict first as 75% and the latter as 25%.