Latest News

ETH Won’t Go Down Below $880

ETH’s fresh momentum continues despite cyclical crypto market conditions. The cryptocurrency is on the recovery path with a 16% correction. With the Georli Test Net launch approaching and the collapse of Luna forcing projects to move to ETH, the downside has been broken and ETH will not go beyond $880. 

Why Ethereum Cannot Go Beyond $880?

Traders Manipulating the Market 

Traders have gone on a manipulation spree but the fluctuations are invalidated. Generally, when there’s market upside or downside, there’s a steady 25% price movement. However, such hasn’t happened since bullish price expectations pushed prices 12% higher. However, though it is a positive sign invalidating a bearish sentiment,a 12% change in prices typically doesn’t validate a bull market either. Hence, traders are playing cat and mouse chase with their assets.

If that doesn’t make matters more complex, ETH has nevertheless touched a neutral to a bearish sentiment on July 7 but soon after it was followed by a 13% rise. These mixed signals have caused jitters in investors. 

ETH has shown cyclical movements in the past few months befoollng investors
Cyclic movements of ETH

Margins Shoot For the Sky 

Margins have gone off the roof on Bitfinex exchange where whales have gone long  on Ether. These longs have seen a vast spike ever since June 13. All of these traders haven’t speculated below $900. Hence, even the $880 mark is the bottom which was left behind. That said, validating the claims for a further upside ahead. 

Margin trades have shown steady sentiments for ETH in the past few days.
Margin Trading Shows a Steady Support

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.