Home Ethereum Ethereum’s Long Term Chart Is Extremely Simple To Read

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple patterns on this chart: the 2018 bear market and the 2019/2020 reversal pattern. The latter is a consolidation, but as per this chart a pretty wide consolidation. That’s why 99% of investors will not ‘experience’ this as a consolidation, it really feels very ‘bad’ if you hold Ethereum as an investor.

Interestingly, the reversal pattern (in yellow on below chart) has several shorter term trends (from a weeks to a few months): a reversal early 2019, an uptrend mid-2019, a downtrend in the latter part of 2019, an uptrend early 2020, the Corona crash, and a new uptrend currently. That’s 6 trends, but all within the context of the long term reversal.

What does all this mean?

Benefit of the doubt to the long term crypto investor who is able to buy-and-hold. Not many are able to withstand the volatility in the crypto market, and 99% of crypto investors buy and sell way too often.

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