Ethereum Price Analysis: ETH/USD: Here come the bears "Daily Gravestone Doji Candlestick"

  • The Ethereum price is at risk of giving back the large gains from December 2018 – January 2019.
  • Saturday’s daily candlestick closure produced a bearish gravestone doji.

The Ethereum price has continued to be a victim of narrowing trading, however signs are starting to show of the bears readying to regain full control. ETH/USD has been stuck within consolidation mode since 11th January, which has very much been observed across the crypto market. Over the last six sessions however, the range has tightened up even further. This type of behavior signals that an explosive breakout is near. Odds appear to be stacked in favor of the market bears for the next move.

At the close of Saturday’s close, a bearish gravestone doji was produced. Going by the textbook, this typically suggests another drop is imminent. Another deep drop wouldn’t be too surprising, given the hard fall earlier in the month. A fast period of aggressive market selling is usually followed by some range-movement, which its way of having a cooling off period. The pickup in downside momentum, after such a development, this time with greater intensity, is something that could very well be seen.


Litecoin’s Charlie Lee on the Crypto Bear Markets

Litecoin’s Charlie Lee: Crypto Bear Markets Are a ‘Good Time to Get Stuff Done’

Litecoin (LTC) creator Charlie Lee has dismissed short-term price trends as the upshot of “speculation,” stressing that long-term valuation is a truer measure of crypto’s success, in a CNBC interview August 27.

When asked to what extent price is a meaningful metric for a given cryptocurrency, and whether or not it reflects the current state of its network, adoption, or viability, Lee responded that:

“In the long-term, [price] tells us the success of cryptocurrencies, but short-term it doesn’t really tell us much. For example this year, there’s been so much adoption in Bitcoin and Litecoin, but their price has dropped 60-70 percent. It’s because it’s so volatile, it’s all about speculation these days, but in the future the price will reflect the success of the currencies.”

Lee noted that it was “hard to predict” when 2018’s bear market would turn, saying that having been in...