Triangle on Ethereum

  • Yesterday's trading was in great uncertainty, there was positive news that did not allow sellers to push prices lower, but on the other hand, many investors still decide to stay out of the market in anticipation of the G20 meeting.

    For yesterday's trading Bitcoin traded in a narrow range of 9,000.00 - 9,300.00 where the price is at the moment. Ethereum also failed to please investors with growth and traded in a narrow range of 680.00 - 700.00. According to the technical analysis, the "triangle" formation is close to completion on the Ethereum chart and there is a possibility that its lower limit will be broken by the price that will lead to a further reduction to the next support level of 565.00 - 600.00.

    Trade in a narrow range is primarily connected with the expectation of the G20 meeting and investors prefer to stay aside for the main crypto-currencies, but for coins of new projects, the situation is different. Investors who invest in new altcoins are much bolder and active purchases are noticeable.
    If you look at the results of trades on the coin CREDITS ("CS") on the KuCoin exchange, you can see that at the moment when the market for Bitcoin and Ethereum stay on the spot, CS took active purchases, which led to an increase of 17.55% for the pair CS / BTC and 18.5% for the CS / ETH pair. This can be seen as a good signal for BUY because if there is demand and buying even in a falling market, then when the market starts to grow and the mood changes into positive, the probability of strong growth will increase noticeably.

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