An enthusiastic cryptocurrency analyst and former trade adviser CryptoAMD shared the possibility of Ethereum reaching $50
CryptoAMD: Ethereum is more likely to reach $ 50 than $ 1,000
CryptoAMD tweeted that Ethereum is more likely to reach $50 compared to $1,000, but the analyst did not explain why. CryptoAMD’s tweet also contained the #Releasethetrolls tag. Some Twitter users asked the analyst what made him come to this conclusion.
According to some analysts, technical analysis for Ethereum points to strong upward momentum in the short term because the daily chart formed a nice upward trend after the recent market collapse. The Ethereum is currently trading at $167 and analysts are looking for another rally, as EMAs are looking for an upward trend in the next few days.
Long-term charts look bad for Ethereum- Analyst
Long-term charts looks a bit worse for Ethereum, according to another popular cryptocurrency analyst, Lorenzo Stroe. For example, although the weekly chart has been on a downward trend since June this year, the recent low level has not continued, which means the bears are not strong. According to Lorenzo Stroe, the monthly chart shows that Ethereum is in a downward trend. According to the analyst, the chart certainly looks much worse than Bitcoin’s monthly chart.
However, according to the analyst, bulls should prevent the price slipping to a lower level. So bulls can still change the momentum and perhaps place ETH to a higher level. According to Lorenzo Stroe, technical indicators show ‘strong sales’ over long periods, but market volatility is too high for long-term indicators to be accurate. There is also some long-term good news for Ethereum, Vitalik- co-founder of Ethereum, recently talked about PoS exchanges and how to make Ethereum more scalable and secure shortly.