The only thing certain in life: Death, Taxes and $300 EtherFundamentals
1. The main reason for fundamentally going long Ether is due to POS. In the future when POS is fully implemented. The supply of Etheruem will decrease and this will lead to headwinds bringing the price of Etheruem up. * Do note that this fundamental view requires a long horizon due to complexity of implementation of this POS.
2. As of the failed fork in BTC, I would expect money to flow into Etheruem but as of right now, money seems to be going into Bitcoin gold which is being rumoured in the market to be the next best beside bitcoin.
Technicals
1. A breach below the support levels 296 could see prices reach 278 again. It would also fail to confirm the bullish rally.
2. Prices of Etheruem seems to be hovering around 290 to 300 price range. Looking to buy around 280 range if sell volume is not heavy.
3. Conservatively, RSI has broken through the support and volume for past few days has been understandably small. Small probability for the rally to sustain as well.
*I am long term in Etheruem, so do not enter in the trade right now due to the reasons above. However, do look out for opportunities if prices break through 280 price range.
