With all the ICO
news I'm really losing faith in the real world uses for ethereum
and I'm surprised its stayed at this value for so long now, to me it's only a matter of time before it falls really hard. That being said the metropolis update is rolling out soon (testnet september 18th, network october 9th
) so it will be interesting to see if the market reacts to that, and if long term it provides some better functionality to developers.
On the daily chart
it's formed a descending triangle
which is due to end in the coming weeks(?) so I'll be setting up a short around there if I still feel the same.
Just as some confirmation for this triangle, the daily stoch RSI
is sitting on oversold so there will likely be another upswing to test that top resistance of the triangle before moving back down.
are also starting to tighten as the price range reduces here.