ETH still showing Oversold signals
This time we are looking at ETH from a 3 year perspective. lets look at 2017, 2018 and the upcoming year 2019.
First we are noticing ETH has a low in the beginning of the 2017 at between $7-8 per coin, which looking back was a steal for that price. As we entered 2018, May 19th rolls around and we see a parabolic increase from $97 to $133. 3 days later we break $200.
From here other noteworthy event are $100 gains, until we reach the final peak of $1432, on January 13th 2018, and since then we have only seen the price fall.
The first major bottom we saw was $363 on April 1st, 2018, and after, there was a run which lasted a few months and hit a high of 835 which was on May 6th, and a subsequent fall to the lowest point of ETH since 2017. S82 per coin on December 16th, indeed a very early Christmas present for those whose managed to pick some up at that price.
As of today we are sitting between $138-140, still down 90% from ATH.
So lets talk about significant points in time and how we can estimate the price action in the future.
January 4th 2017 : $10 per coin.
5 months later, May 11th price passes $100, or a 1000% increase.
January 6th, 2018 : ~$1000 per coin
6 days later hits ATH. or $1400 per coin, a mere 71% increase
Finally. December 16th 2018, Yearly low of $84 per coin
Today, $140, a 60% increase.
but to get back to $1400, would be a 1000% increase again.
Se in conclusion, we are seeing the same set up that happened in 2017, which provided you hold to certain targets, there is a good chance of this being a new yearly cycle.
Note : RSI is showing -100 , or a strong oversold indicator, as well as MACD showing -100 oversold.
First we are noticing ETH has a low in the beginning of the 2017 at between $7-8 per coin, which looking back was a steal for that price. As we entered 2018, May 19th rolls around and we see a parabolic increase from $97 to $133. 3 days later we break $200.
From here other noteworthy event are $100 gains, until we reach the final peak of $1432, on January 13th 2018, and since then we have only seen the price fall.
The first major bottom we saw was $363 on April 1st, 2018, and after, there was a run which lasted a few months and hit a high of 835 which was on May 6th, and a subsequent fall to the lowest point of ETH since 2017. S82 per coin on December 16th, indeed a very early Christmas present for those whose managed to pick some up at that price.
As of today we are sitting between $138-140, still down 90% from ATH.
So lets talk about significant points in time and how we can estimate the price action in the future.
January 4th 2017 : $10 per coin.
5 months later, May 11th price passes $100, or a 1000% increase.
January 6th, 2018 : ~$1000 per coin
6 days later hits ATH. or $1400 per coin, a mere 71% increase
Finally. December 16th 2018, Yearly low of $84 per coin
Today, $140, a 60% increase.
but to get back to $1400, would be a 1000% increase again.
Se in conclusion, we are seeing the same set up that happened in 2017, which provided you hold to certain targets, there is a good chance of this being a new yearly cycle.
Note : RSI is showing -100 , or a strong oversold indicator, as well as MACD showing -100 oversold.
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