HOLY SHIT poloniex volume is going nuts
Who knows where this will end. Hop on now my friends.
ETH under $1 is the best XMAS present a whale could ask for : )
Industry & Social ImplicationsIoT, finance, government, supply chain tracking, notarization, creative registries, identity and reputation, markets and exchanges,
and related topics for policymakers and investors
SOURCE:
https://devcon.ethereum.org/
Applying the Fibonacci retracement tool on the swing high and low on the 4-hour chart suggests that the strong rally isnt simply a correction but the start of a longer-term uptrend.
Ethereum price has gained solid momentum after its upside trend line breakout on the short-term time frame.
The 61.8% Fibonacci retracement level lines up with an area of interest, as price action has previously stalled around the 0.00300 mark. Ethereum price has been able to surge past the long-term 200 SMA though, indicating that bullish momentum is getting stronger.
For now, the 100 SMA is below the 200 SMA, which means that the downtrend might still resume. However, the moving averages are treading closer together, hinting that an upward crossover might be seen.
A long spike has formed upon the test of the 61.8% Fib, as this is the line in the sand for a corrective wave. Any rallies past that point would show that bulls are in control.
