BTC is as flat as water, ETH may rise suddenly
Some data show that the exchange rate between Ethereum and Bitcoin has increased to a certain extent recently; in terms of fundamentals, the transaction volume on the Ethereum chain and the DApp transaction volume on the chain remain stable, the growth rate of new addresses has accelerated to a certain extent, and the computing power has increased to a certain extent; The 30-day developer index is about 2.24; the 180-day correlation between Ethereum and BTC has a slight correction, which is about 0.796, and the 30-day ROI continues to decline; according to the six data on the TokenGazer official website, the moving average of the Ethereum sentiment index is on the rise; The premium of Fang Grayscale Trust has increased to a certain extent.
In addition, Heath Tarbert, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said recently that mining is a more decentralized way to obtain cryptocurrencies, but the nature of Ethereum tokens may change. Since ETH 2.0 will use the proof-of-stake mechanism (PoS), holders can continue to earn income from the network. Under certain factors, equity tokens may not pass the Howey test (a test to test whether they are securities), so they will be regarded as securities. These news undoubtedly show that the future of ETH is constantly improving, and this may also be a booster for ETH to take the lead in breaking the current stalemate.
The trading of Bitcoin is still light within the day, and the price of the currency in the early trading basically maintains a fluctuation of 60 points, and most investors are in a wait-and-see state. In contrast, the short-term active performance of Ethereum is more exciting, and perhaps the breaking of the deadlock will happen here. In the morning, the price of Ethereum rose short-term and touched the 189.3 position and then fell back. The price has recently been testing the 190-line position online to suppress, and this line position is also the upper track position of the daily line. If the price can effectively break through this line position in the future market, then It is very possible to open up the upside space and lead a wave of uptrends.
However, the author Yu Jixin once mentioned in the article that the bright future vision is not very meaningful to the operator of the contract if it is not reflected in the currency price. The contract focuses more on short-term operations. Looking at the current trend, the upper track of the Bollinger Bands on the 4-hour chart level began to close downwards, and the upper suppression gradually increased, but the 5-day moving average still maintained an upward trend. Looking at the indicators in the attached picture, MACD is showing a tendency to rise, and RSI and Stoch are both running downward above the 50 level. In the short term, the trend of ETH is expected to remain a volatile trend. In terms of operation, it is recommended to keep selling high and buying low within the range. Focus on 190 suppression at the top and support at 187-185 at the bottom. If the price breaks above the 190 position, it can continue to follow the trend and see the 195 position.
