On a day where many other altcoins are making significant jumps, Ethereium appears to be holding relatively steady and continuing its slight incline pattern. Today we are looking at Ethereum at a more macro, long-term view and when we look at the price zoomed out, we must say that it’s very encouraging for the long-term.
Here is a chart of Ethereum over the past couple of years in USD value:
At first glance, this chart may seem depressing. However, for the savvy investor, this looks like a perfect opportunity to get back in on the ground floor. See below the most common chart to illustrate market cycles:
This chart could indicate that things are just starting to get exciting for Ethereum and many other cryptos. It appears that many altcoins are stuck in this very same pattern with negative sentiment at an all-time high and getting higher each day. It seems that ETH is undervalued right now, and we think that the price is headed for greater things in the coming weeks as long as BTC can continue its ascent or stay still without a major setback.
We’ll be keeping our eyes on Ethereum in the coming weeks as it’s a great candidate to make a comeback in price and the chart appears to be playing out in a very intriguing way.