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Everyone who has entered the currency circle knows that Ethereum has created the blockchain 2.0 era. The eth smart contract is a piece of code that can be written on the blockchain and enforced. Other blockchain projects can also create their own tokens based on eth's erc20 standard. In the currency circle, basically more than half of the 1co crowdfunding is initiated by eth tokens, which has a very wide influence. In addition, Ethereum is actually designed to solve the problem of insufficient scalability of Bitcoin. Smart contracts are its biggest highlight. In January 2018, the price of eth rose to a maximum of 10,000 yuan. However, within a year, the price dropped back to more than 500 yuan. The price fluctuated greatly, causing many people in the industry to suffer heavy losses. I remember that earlier, Ethereum founder V God also said on Twitter that the value of eth has been over-consumed. It is not advisable for some speculators and large financial institutions to speculate on Ethereum. When the price of the currency is over-hyped without paying attention to the intrinsic value of Ethereum, it will be a matter of time before the currency price returns to rationality. As for eth currently in the 1,500 range, from a long-term investment perspective, I think the value is relatively obvious. Back to the short-cycle market~  In this round of correction, eth reached the lowest Fibonacci retracement area of 61.8%, and the corresponding currency price was in the $191 area, forming a stage low. In the past half month, the price range has been fluctuating repeatedly in the 61.85-50% range. It can be seen that at this stage, there is not much difference in the performance of the long and short parties in the market. The repeatedly fluctuating trend of eth is actually more conducive for us to make short-term trading plans. The currency price takes the stage low of $191 as an important support area. If it does not break this position during the retracement, the short-term focus will be on long positions. On the contrary, if the level is broken due to heavy volume, short-term short orders will follow up. As for the short-term upward resistance area, you can pay attention to the 50% Fibonacci retracement area, which corresponds to the currency price around 223. If eth can break through and stabilize at $223 in the next rebound, you can continue to participate in short-term long orders. The above are personal operating ideas. There is no absolute method that is universally applicable in the currency circle. Only formulating a reasonable strategy for yourself is the safest way to play. |
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