I think it's safe to say that if Ethereum (ETH) was a good investment or trading play, it should not be down 8% this morning. We took a look at our Fibonacci time analysis from an Ethereum (ETH) two-chart.
Ethereum (ETH) should be going up this week, and it's not. Not to sound trite, but if a market should go up, and it doesn't. It is probably then going to turn around and go down. It seems we have to face the reality that Ethereum (ETH) could be caught in a sequel to 2018. As with Bitcoin ( BTC ), we are concerned that Ethereum (ETH) may get caught in a selling vortex and a crypto wide crash.
Bottom Line: We have to face facts. Bitcoin ( BTC ) cracked 8k, and alts fell apart. Ethereum is now at the mercy of the market. Protect yourself.
DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice. The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.