ETHUSD can try the patience of a saint. If you talk to a hard core ETH fan, depression is notable.

Right now, ETHUSD is sitting near a big moving average and Fib retracement level near $190. If you follow technical theory, you should not buy below resistance. So, we have to remember to remain patient. A move through $190 would be constructive.

We think it is time to consider buying a small dip or just having a small long position in case ETH takes off. Events in the Middle East and Hong Kong may drive people towards alternative assets. Said differently, if you gave us the choice of owning ETH or QQQ, we would pick ETH.

Bottom Line: It's easy to not like ETH. That's exactly why we are going to like it for a bit and see what happens. Why not?

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/.