For a long time now, a similar weekly price pattern [declining then recovery-attempts] has been showcased in the market with Bitcoin [the leading coin] escalating or shrinking any value movements. That is why when it comes to making any value conclusions for further trading steps, it is recommended to be on the lookout of the leading ones.
Per time of writing, Ethereum is dropping to its lowest for 3 months as it is battling around with the $550.90 level not to go further down while experiencing a decline of 10.60 percent in the last 24-hours. Dipping from the all-time high of $1400.00 to $550.00 mark a decrease of -60.70%. If the level holds its ground now, it will signal that a recovery setup is being made.
With almost every coin under the bearish pressure, a few market analysts are still predicting a positive graph. To understand and deliver what the analysts, investors, and influences feel about the market, below claims and opinions are highlighted out.
“For all those people who have spare cash and do not invest in Ethereum, I feel bad for you all. Among all coins only ETH has been consistently trying to break away from the resistance. It is only the Bitcoin chaos that is keeping it at its low. Let the chaos subside, ETH will take over the world. You guys, invest now! The prices too are so low!!!” – Software Engineer, Walter Gordin ETH holder
If you step back and take a look at all the collected data and results from traders, investors, enthusiasts and analysts – in general there is a similar idea being conclude as to the uncertainty is coming only due to repercussions of the recent bearish events in the crypto-ecosystem. Which is why many will find use of the low prices and despite that the coming weeks might by unfavorable – the market of Ethereum will shine and boom even more.
Source : Ethereum World