OCT15, Ethereum weekend price analysis. Bearish, oversold, HF monday.
Ethereum down 8 days in a row, consolidated and now drifting slightly lower over the weekend. Disclosure, I am long from 0.0185ish from a day ago. Timestamp I really thought it would bounce by now. However, the volume is low on weekends and there is uncertainty going into a HF monday. Market participants often wait after major uncertainty clears before going into the market so we should expect to see increased volatility after Monday. In addition, a successful (likely) will give confidence to the market from a massively oversold market. If market stays bearish, the next support is around 0.0175-170 and that is not good for ethereum either way you look at it.
Fundamentals: I believe from a technological challenge point of view of a HF, it is much easier to fork by changing gas values of OPCODES compared to a more philosophical disagreement with DAO HF. I don't try to put fundamental analysis as a part of trading because the two often disconnects, but it is interesting to use game theory to try to predict all the scenarios that could happen.
Do any of you use Gemini to trade ethereum? They offer auction market for BTC with great volume, I wonder if they will ever offer ETH as well.
Side note: If XMR breaks support because it looks like a bear flag consolidating. I see 0.08. At this point it is a classic Eiffel tower pattern and a true PND with up to 180mil market cap.