The Ethereum showed quite good results in terms of profitability in 2019. After a long bearish trend, the price of the cryptocurrency began to increase and has increased several times in just a couple of months. Huge pressure from buyers, ETH was the reason for the change of sentiment among traders. This is reflected in the investment firm Darma Capital. Her leadership has created a new Fund for investors, which are to increase the asset.
At the moment Ethereum is trading at $ 249. For the past day, the price of cryptocurrency has not practically changed. In General, the previous week was not very successful — in total, over seven days, the Air fell 2 percent.
Deal of the decade
Darma Capital is a relatively young investment firm, under which is approximately $ 100 million in client assets. Recently one of the managers Darma Capital gave an interview to Bloomberg, which stated on the opening “long on Ethereum with a duration of 10 years.”
However, it is not clear how the company is going to “fight” with the cycles of the stock market. Now they believe that the key to the “decade of bullrun” will be institutional investors. They should be interested in Ethereum and push its price even higher than before established a historical maximum.
The price movement of the cryptocurrency in the short term still remains in question. Trader under the name Cryptomist does not exclude the possibility of a new drain Ethereum.
While my previous analysis remains valid. We are not forming a bullish flag on a local scale. The recent price movement of the asset the RSI is allowed to grow before the new drop. Still count on reduction of price to the area $ 220.
So far So good with the previous analysis ?
We are not creating a smaller time frame pennant
The recent price action has allowed RSI to rise up for a fall
Still have my eye on $220 region https://t.co/wERjHtp83I pic.twitter.com/tTZB1i12YN
— The Cryptomist (@TheCryptomist) June 6, 2019
It is likely that the next breakthrough Ethereum will depend entirely on the behavior of Bitcoin. The first about the rise or fall you will find in our cryptodata of hontarov, so check back.
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