Ethereum keeps struggling against the Bitcoin with no sign of any attempt by the buyers that would lead us to expect some relief in the near-term. The pair keeps diving toward new year lows, for now sitting at 0.019 BTC.
Sellers are fully in control as they have since the beginning of the year. Ethereum is strongly suffering from Bitcoin's dominance that keeps rising.
Stochastic is showing some bullish divergence with current price trend but as this isn't backed by volume, we could see the stochastic oscillator crossing back below the oversold line.
There is still no sign of any reversal and we expect rebounds to be sold in the near term.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .
Sellers are fully in control as they have since the beginning of the year. Ethereum is strongly suffering from Bitcoin's dominance that keeps rising.
Stochastic is showing some bullish divergence with current price trend but as this isn't backed by volume, we could see the stochastic oscillator crossing back below the oversold line.
There is still no sign of any reversal and we expect rebounds to be sold in the near term.
Raphaël Comte
Investment Analyst at Token Metrics
Disclosure: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. Its principal has advised and invested in many blockchain companies. A complete list of his disclosures, advisory roles and current holdings can be viewed here: ianbalina.com/pages/....................... .