{"id":419169,"date":"2020-03-25T16:00:15","date_gmt":"2020-03-25T16:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=419169"},"modified":"2020-03-25T15:41:54","modified_gmt":"2020-03-25T15:41:54","slug":"crypto-analyst-on-ethereum-downtrend-new-lows-and-capitulation-are-coming","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-analyst-on-ethereum-downtrend-new-lows-and-capitulation-are-coming\/","title":{"rendered":"Crypto Analyst on Ethereum Downtrend: New Lows and Capitulation Are Coming"},"content":{"rendered":"

Ethereum<\/a> kicked off 2020 with an explosive rally following the rapid growth and expansion of the decentralized finance sector, which nearly doubled the value of the asset in just a couple of month\u2019s time.<\/span><\/p>\n

But a failure to set a higher high and a fall to new lows puts Ethereum back into a downtrend that one analyst says is going to lead to even deeper new lows and possible final capitulation before the altcoin rises once again.<\/span><\/p>\n

ETH\/USD Downtrend Continues, Capitulation and New Lows Coming<\/span><\/h2>\n
During the 2017 crypto hype bubble, it wasn\u2019t just Bitcoin soaking up all of the limelight. Ethereum<\/a> was also experiencing extreme growth in value on the heels of the initial coin offering boom.<\/span><\/p>\n
Investors were buying up Ether feverishly and exchanging it for access to early launch phase cryptocurrencies built as ERC-20 tokens launched on Ethereum\u2019s protocol.<\/span><\/p>\n
Related Reading | $50 Is Final Target For Ethereum Correction According To Elliott Wave Theory<\/a><\/strong><\/em><\/p>\n
The asset eventually reached an all-time high for over $1,400.<\/span><\/p>\n
Since then, however, the asset is down over 90% from its all-time high, and after a glimmer of hope at the start of the year<\/a> that a higher low was being put in \u2013 a sign an uptrend is beginning \u2013 it only led to yet another lower high, and a new, lower low followed.<\/span><\/p>\n
Setting a continued sequence of lower highs and lower lows is the definition of a downtrend<\/a>, and few assets fit this definition as well as Ethereum against the dollar.<\/span><\/p>\n
Until Ethereum<\/a> breaks back above $150 and holds it as support, one crypto analyst sees very little reason to expect higher ETH prices in the days to come.<\/span><\/p>\n
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$ETH<\/a><\/p>\n
The USD pair looks even worse.
ETH dropped by 90%+ and is now ranging putting in lower highs and lower lows.
I like being bullish as much as the next guy but as long as ETHUSD is trading & closing below $150 I see little reason to expect higher prices. pic.twitter.com\/MANaB9O2jn<\/a><\/p>\n
— DonAlt (@CryptoDonAlt) March 25, 2020<\/a><\/p><\/blockquote>\n