Ethereum Market Analysis for June 13, 2018
Fellow Steemit Users, it’s always a good day in the crypto-space. Whether markets are up or down, a wise trader can always find a way to turn a profit! Sometimes it is all about finding arbitrage opportunities between various trading platforms, sometimes it is about anticipating a rise after a coin experiences a slump, and sometimes it is just about holding your coins and watching those values tick higher. Whatever your preferred method of trading, we here at Cryptonews 24/7 will strive to provide you with daily analysis of various markets to help you in your quest to acquire more wealth, no matter how much or how little capital you are starting with.
When analyzing cryptocurrencies, it is important to look at historical trends in addition to the current market trends. This expansive analysis can provide you with a better picture of where the market has been, and thus, where it might be trending towards next.
Here is what the 1-Month Chart is looking like:
Here is what the 5-Day Chart is looking like:
Here is what the 1-Day Chart is looking like:
As you can see when comparing these three charts, Ethereum values took a dive at the end of May and had been steadily consolidating to the $600 level throughout the month of June. Unfortunately, Ethereum has lost approximately $100 in value a few days ago followed by another nearly $100 drop down to just above $450. CrytpoNews24/7 expects this current plummet to continue down towards $380-$400 before we experience another slight stabilization. When looking to the slightly expanded 1-day chart, which we provided for today, you can observe a roughly 24 hour cyclical sine wave. If you pick a time and look 24 hours before or after that time, Ethereum’s value has almost returned to where it began, with an alternating dip and rise pattern. This type of a pattern can be a short-term investors dream, as it allows for multiple “buy low, sell high” opportunities for as long as the pattern persists. As we stated yesterday, Ethereum experienced a similar drop at the end of May, before steadily climbing back up and stabilizing at the $600 level. As a result of this historical trend, markets will likely see an influx of traders seeking to exploit a “buy low, sell high” opportunity here before the markets recover to somewhere between $580 and $600.
We hope that you have found the above information useful, and we wish you the best in all of your endeavors.
Sincerely,
CryptoNews 24/7
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