Ethereum (ETH) Appears Bullish Than Ever Despite Sell Pressure — Crypto Daily™


Ethereum (ETH) has been under a lot of sell pressure recently as projects built on Ethereum (ETH) continue to dump their coins on exchanges. It recently happened with EOS (EOS) when company accounts dumped a big load of their Ethereum (ETH) coins on Bitfinex. The same is true of other ICOs conducted on the Ethereum (ETH) blockchain. To Ethereum (ETH) founders and developers, this would be the cost of doing business, which is perfectly fine long term. However, for investors in Ethereum (ETH), it is a major concern considering they never know when an ICO project is going to dump a big load of their Ethereum (ETH) holdings on an open exchange.

Ethereum (ETH) looks more bullish than ever despite these negative developments. The monthly chart for ETH/USD shows how Ethereum (ETH) has reached the bottom of the bullish channel. The last time this happened, Ethereum (ETH) had a big run up to $1,000+. This time around, the price is expected to end up at 5 digits instead of 4, thanks to talks of an Ethereum ETF. Most exchanges and brokers are already offering Ethereum Futures and Options, but to make it easier for investors to invest in Ethereum (ETH), an ETF would be a big move. While this may seem trivial to tech savvy current crypto investors who can transfer Ethereum (ETH) to and fro wallets with no hassle, it is a problem for traditional investors.

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