Pondering Out Loud re: Ether has a great week but mainly for dollar cost averagers and we have Trump to thank for it. a Technical and Fundamental POV
So trump is holding eth and a bunch of other cryptos which is cool, so now lets see a weekly chart from a few days ago and maybe it has room to rally but has not seen a buy signal, I would not be shocked to see it at $1000 again as anything is possible and that was my analysis on these last few posts of a further defense of the petrodollar which trump loves so dearly, yet now he is a hodler. Now the cross marketing can commence!
Bearish on eth short term no buy signal yet so for now just wait and this is from my tweet at the beginning of the week ... there is divergence on both the MACD and RSI which is overbought as well #ethgate trending a few days ago yet we can see what happened in real time as the fundamentals and legal issues are on going. Its tough out there but that is what bankers do all day, they just use crypto to fund other less liquid funds all the live long day.
As you can see the price dropped from all the weight of governmental pressures anyone can understand that. It sucks there is a lot of lessons to be learned first. The RSI hit oversold but the MACD hasnt shown a cross and no divergence so I would expect it to go lower and wouldnt buy yet just sit and wait ...as is trading.
Yeah this is pretty bad for crypto because trump is working, he is a master marketer and as the fore most bankruptcy expert of modern times from prior to the presidency. Trump has had a way of influencing the digital rollout as well, as he also launched a bunch of nfts and forgot to give them utility like at least a game or two, gamefi produces you know.
They even put it on show as the wallet began to be tracked. I guess he will show he is a holder like the rest of us and get to talk about it now. The marketing of crypto continues I guess, and good thing its fun to watch.