Ethereum (ETH), currently trading at $567 as a tremendous amount of potential to rise in the near future – representing a fantastic buying opportunity incoming that those looking to jump on board the crypto currency train aren’t going to want to miss out on.
Ethereum ($ETH) Price Analysis on March 24, 2018
As previously predicted, Ethereum has continued to climb higher and higher compared to many of the other crypto currency options that have taken a bit of a tumble across most global markets. Two individual support levels are showing their signals when it comes to Ethereum right now, and both of them could come into play around the same time that would shuffle the value of this crypto currency even higher.
Interestingly enough, there is a side-wards support line holding for Ethereum at $552 which should also continue to maintain its pace and a lower support zone is currently holding at $455 – and that’s where the overwhelming majority of buy opportunities are going to exist, especially if the side support is no longer able to hold and maintain its position.
The overwhelming majority of industry crypto currency traders are seeing Ethereum as a long term investment opportunity, and many believe that it is going to far outpace been going when it comes to total market capitalization and overall valuation within a year or two.
Ethereum has a bedrock of stability for its blockchain technology that a lot of other more modern “flash in the pan” crypto currency technologies and investment opportunities do not. This has given Ethereum a lot of stability, a lot of security, and a lot of credibility in an investment market that is sorely lacking in all of those departments almost across the board.
On top of that, the partially semi-permissioned nature of the Ethereum platform makes it for a much better long-term prospect than the permission-less crypto currency BitCoin. There isn’t quite as much volatility for Ethereum has there is for BitCoin or other similar crypto currencies, which means there aren’t quite as high leaps in value – but it also means that there aren’t quite as many deep valleys when it comes to value loss, either.
Obviously, it’s important to pay close attention to the signals and the charts related to the value of Ethereum on a minute by minute basis when you are getting ready to place your purchase or sell order. There are currently only two levels of support as we mentioned above, and purchasing Ethereum before you see a sufficient enough retest on the support at $552 – followed by a big breakout – would be a major mistake you don’t want to make.