##Simple Reasons why this Trader is cautious of Ethereum - Litecoin Forum: Visit - www.t.me/freebitmexsignals
For all latest news update on Cryptocurrency, Free crypto signals & bitMEX crypto trading BOT visit above given Telegram channel
Ethereum, like Bitcoin, is currently trading at the lower boundary of its long-established trading range
The cryptocurrency does appear to be positioned to see a breakdown below this range, but whether or not this takes place will likely depend on Bitcoin
One analyst is now growing increasingly cautious on ETH, explaining that massive spikes in miner outflows for the cryptocurrency signal that a large drop could be imminent
This also comes as the China-based PlusToken Ponzi scheme begins growing increasingly active
On-chain data shows that they just recently moved nearly 800,000 ETH
Ethereum has been flashing signs of weakness as the entire cryptocurrency market continues losing the momentum that had been established over the past several days and weeks.
This lack of momentum does seem to suggest that further downside could be imminent. Buyers are, however, attempting to defend the lower boundaries of the trading ranges that ETH, Bitcoin, and other altcoins have formed over the past few weeks.
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For all latest news update on Cryptocurrency, Free crypto signals & bitMEX crypto trading BOT visit above given Telegram channel
Ethereum, like Bitcoin, is currently trading at the lower boundary of its long-established trading range
The cryptocurrency does appear to be positioned to see a breakdown below this range, but whether or not this takes place will likely depend on Bitcoin
One analyst is now growing increasingly cautious on ETH, explaining that massive spikes in miner outflows for the cryptocurrency signal that a large drop could be imminent
This also comes as the China-based PlusToken Ponzi scheme begins growing increasingly active
On-chain data shows that they just recently moved nearly 800,000 ETH
Ethereum has been flashing signs of weakness as the entire cryptocurrency market continues losing the momentum that had been established over the past several days and weeks.
This lack of momentum does seem to suggest that further downside could be imminent. Buyers are, however, attempting to defend the lower boundaries of the trading ranges that ETH, Bitcoin, and other altcoins have formed over the past few weeks.
14 B
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