Almost in spite of the BTCUSD price, ETHUSD has held steady against a healthy ration of bad publicity for BTC. A bullish pennant continues to form as the story develops.
There is expected news of new members joining the EEA toward the end of the month. Perhaps Consensus-NY on May 22, 2017.
Raiden's MVP is currently at 85% complete.
Casper is on the way.
Which unlocks the ability to use Raiden, as well as Dash/Zcoin/Monero competitor, ZKsnarks.
The price has upward momentum, even in the face of a black swan news event.
Do you think there will be a breakout of the pennant which reflects the upcoming news?
Certainly, these news are going to increase the popularity of the Ethereum network and therefore, are likely to cause a significant advance in price. Already, the release of the Lightning network in Bitcoin, Japan recognizing Bitcoin as currency, etc. have provoked an appreciation in value for almost all major cryptocurrencies, including ether, simply because of the fact that due to the announcements more people came across the topic of cryptocurrencies. Thus, I strongly believe that the upcoming events are going to have an extremely bullish effect on the ether price since they are causing popularity as well.
Good work with your analysis, you are obviously well informed and have a good sense of technical analysis!
Good work with your analysis, you are obviously well informed and have a good sense of technical analysis!