For the cryptocurrency market, Monday has become a respite, which can be expressed in downtrends or moving to a new level for key assets. In turn, the brainchild of Vitalik Buterin was no exception. The fluctuations in the bitcoin rate continued for 5 days, and today there is a real opportunity to sell ether at $ 3,000. However, on Bitfinex, the cost of this cryptocurrency is $ 2,960.
Signals are required for timely exchange of Ethereum
The downward reversal that took place today is short-lived. As for the rise in the price of ether, it happened by the evening, and its cost amounted to 3 thousand USD. At the same time, panic can be expected in the behavior of the target audience, which will be caused by the height of the following cycle:
- First of all, the London hard fork has already taken place, so a reduction in the ETH news fund can be expected in the coming weeks;
- In addition, there is a dependence of the thematic altcoin on BTC, the capitalization of which is 2.4 times more than ethereum;
- Some players are closer to the idea of 45% profit than the imaginary hope that already took place in May;
- Also, because the historical maximum this year has already been recorded in the range of 4,200-4,400 USD, the chances of a repeat are extremely small.
To date, there is an active collaboration on the Dogecoin Foundation together with Elon Musk. Thus, the target audience can be expected to be willing to take risks by exchanging Ethereum for DOGE. This decision is especially facilitated by the fact that the well-known head of Tesla, Jared Birchell, as well as the well-known co-founder of DOGE Billy Marcus, are taking part in the Foundation.
What is the best period to buy Ethereum?
If we consider the period for 2021, then we can note the subsidence of the MTC capitalization. At the same time, there is an active growth in the capitalization of altcoins and ethereum. At the same time, the most active in the use of Ethereum in the field of smart contacts and trading. And the use of all other altcoins combined cannot be compared to that. As for the difference between the results. Then it is 3%. However, the target audience has an active desire to buy Ethereum. But there is not a lot of willingness to take risks by taking part in projects that are little known.
As of today, it is not recommended to abandon Ethereum, since phase 2.0. is about to be launched. If the sale has already taken place, it is necessary to enter the market promptly, while taking into account the rate of drawdown and resistance indicators:
- Since August 18, the rate has reached $ 2,900, and therefore there is a possibility that a drawdown up to $ 2,800 could take place;
- $ 1,700 is an indicator to be guided by in case of an accelerated drawdown;
- If the rate exceeds $ 3,800, then the maximum can be updated.
The latter option may take place taking into account the potential of BTC, the news background, and the situation in the world. If the ETH 2.0 protocol is launched. Then the second leader can get the volume of transactions that are larger than Visa and MasterCard. Before selling Ethereum, you should think about the prospects, as investors do. However, after that. As in 2020, some validators entered into a contract, they can only profit from staking, and full management of the thematic asset is not available.