Digital Currency Support Levels Hold Up; What Now?

Digital Currency Support Levels Hold Up; What Now?

Using Ethereum (ETH) as my specimen I watched prices gap lower and run directly into support, and in the case of ETH it was a simple math calculation establishing $166 per coin as a dependable level of support, and the sell off held this support level trading to $170 before reversing. I think it is important to ask what should happen now. Let’s review the price action and examine the technical analysis logic we have been using. In 2017 ETH traded from $18 to $408 and sold off more than 50% trading down to $170, if you do the math $170 was about a 62% retracement which is standard in....


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Quotes

The early days of the internet was like this scary thing, all gambling, and porn and you couldn't even transact on there. And then nice walled gardens came along and made everyone quite comfortable with it, which may be like banks and financial institutions are doing now. But it kind of misses the point. The idea of the web and the internet is supposed to be open to everyone.

Paul Gordon, CEO of Quantave