ETHEREUM Looking The Weakest Of The BIG 3
Ethereum is looking like it's the worst performing of the "Big 3" (BTC, ETH, LTC) right now. Yesterday, we almost saw a touch of the low low from the previous bounce. Compared to BTC and LTC which are still significantly above the low of the bounce, this is a sign that leads me to this conclusion. ETH rallied hard way after we saw the peak of BTC back in December.
I do still feel like we can eventually find support and we'll see a rally to the $1k region again. This idea doesn't seem that difficult or unreasonable.
For now, support is still low of the bounce at $555. Near resistance is $675.
How about the us dollar and euro?
Not a FOREX trader...not sure. USD is typically the strongest though.
If you observe, the market cap has not reduce that greatly for Ethereum. It is pretty much high. Bitcoin lost around 100M on the market cap.
How can you say that? Both have lost same percentages....meaning same loss in market cap. Only thing ETH has going for it in that aspect is a faster rate of production which would add to it -- but then also increases supply which then reduces price.