On a quiet day

No new charts to add in ETH land. The tiger seems to be not very hungry. Or may be he is choosing the next target.

Talking about the targets. The cryptoinvestors have lately been active in pouring the money into different projects. Some of them seem to be pretty interesting, others are pretty much pump and dump and nothing more.

What all of them have in common, however, is the fact that they can also be implemented on Ethereum platform. Sometimes the author has a feeling that what we witness now is just a test-run. Unless big money and great product teams (not just tech people) will start implementing these ideas on Ethereum.

May be this is just a wish, as the author himself is also working on two projects at the moment. One of them was quite poorly executed on STEEM. The author believes it can be done better.

As for ETH sentiment. Based on the latest news, as said in the beginning the majority of traders/speculators moved somewhere else (XMR, FCT, LSK to name just a few). It means low volume on ETH. So it’s good basis to finally make a good move up.

And as shown on the picture below:

ETHSentiment

The message is clear -> The ETH will be dead. Well, looks like the time for ETH to grow is indeed near.

Enjoy the suddenly returned back hot summer.

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

4 thoughts on “On a quiet day”

    1. One thing is worrying me though; in the eththrader subreddit the general sentiment is that ETH will go up with Devcon2 and all the good news ‘surprise’ announcements. Not exactly capitulation.

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      1. that’s right too. I’m also a bit concerned about it. However, we had almost capitulation with the last big drop. So it would be normal to go all the way up (in sentiment) until we are again super excited.

        Anyway, you are right and we need to be careful.

        Like

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