In one of my last blogs I wrote about how ETH is due for a major correction that will stick this time out, a second crash. I think we are seeing it. When I wrote this blog https://steemit.com/ethereum/@wvm/ethereum-second-crash ETH dropped from it's recent rally of $330 to $293. I looked at the graphs and through my analysis came to the conclusion that ETH was overvalued on on the way further down. At the time of writing this blog ETH is at $254, I feel it's new low will be around $170 then it will bounce back to it's new support base at $230 - $250.
I bought all my ETH at $200 - $230 and sold all of it at $300 - $320. I'll buy back in to ETH once it goes below $200, my best guess for that price range is tomorrow.....
Let's see what happens!
*Edit at 4:13PM No one knows the future! These markets are volatile very hard to predict but I think we will see a new low for ETH before we see new highs.
*Edit at 4:36PM I also want to stress this was my own personal strategy I was sharing with the Steemit community, I am in no way giving advice on investing, only sharing a risk I took a couple of days ago. I sold all my ETH expecting a new low by Sunday. I believe in the long term prospects of ETH and see it rising a great deal a within a year.
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