Market Analysis by Dr. Arnout ter Schure covering: Bitcoin US Dollar, Bitcoin, Ethereum US Dollar. Read Dr. Arnout ter Schure 's Market Analysis on Investing.com
) did. And that is essentially where the comparison ends. The former has increased by over 50% since then, whereas the latter has only added 27%.
We don’t know why that is, but the why doesn’t matter. Namely, price is the aggregate of all market participants’ opinions about, in this case, Ether at any given time, and it follows that this combined opinion has soured. Therefore, it is increasingly likely that the August or September low was not the green W-4—subsequently, the March high was not a green W-3 but a green W-c. See the green box in the upper left corner of Figure 1. This means ETH’s price action may still be stuck in a more significant 4th wave, targeting $700-1000. See Figure 2 below.
Our opinion or quest for answers on why Ethereum is not rallying clearly won’t matter for ETH’s price, so we don’t bother with the why. Instead, we know for sure that only price pays, and we now have clear parameters in place to tell us if Ether is ready to rally more directly or if it wants to revisit the triple-digits one more time.
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