- Ethereum continues consolidating losses, staying below $230.
- SharesPost survey showed a high level of optimism in the crypto community.
ETH/USD is changing hands at $229, off the Thursday’s low at $208. The second largest coin by market value has been consolidating losses after a collapse triggered by Goldman’s decision to retreat from creating a trading desk for digital assets.
Cryptocurrency market has lost over 60% of its value this year, but the tumbling prices seem to do little to dent the optimism of crypto enthusiasts. More than half of all crypto holders plan to increase their holdings within the next 12 month, the latest SharesPost survey showed. Moreover, the overwhelming majority believes that the prices will go higher in 12 month time.
“Despite the 60 percent decline in cryptocurrency valuations this year, consumers and investors continue to offer a bullish, long-term outlook for crypto and blockchain. However, investors have become less optimistic about near-term cryptocurrency trends while consumers’ positive outlook remains mostly unchanged since the beginning of the year,” according to Rohit Kulkarni, managing director and head of research at SharesPost.
Ethereum’s technical picture
As it is visible on a 1-hour timeframe, the nearest resistance is created by SMA50 at $241. Once it is cleared, ETH/USD will be able to proceed to psychologically important $250 followed by $265 (SMA100) and the broken trendline at $276. On the downside, the support lies at $220 and $208. The ultimate support is $200 handle.
ETH/USD, 1-hour chart
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