Fundamental Analysis Ethereum October 2018

Fundamental Analysis Ethereum (ETH) October 2018

Even with major events and conferences, the price of the ether currently trades in a downward spiral. Read on as we compare the fundamental announcements to the price chart.

A Focus on Previous and Upcoming Events in the Bitcoin Cash Community

Fundamental Analysis Ethereum October 2018 graph

We’ll be making reference to the ETHUSD chart above, while we walk through a few of the previous and later to the future events in the Ethereum community, making use to the list of events below.

Ethereum upcoming events:

Ethereum past events:

Coinbit Exchange Listing 11th May

Using technical analysis for housekeeping cannot be overemphasized, as it gives us the confidence to enter a trade base of a fundamental announcement and event. A bearish accumulation pattern was triggered exactly on the date of the coinbit Exchange Listing. This was expected to increase speculative adoption and hence an increase in the value of the BTC. On the contrary, investors and speculators interpreted this differently as they seized the opportunity to dump their Ether holdings.

DogeCon Vancouver 21th June

The DogeCon conference which took place in Vancouver also came with a lot of negative sentiment from speculators, as another bearish accumulation price action pattern triggered more selling of the ETHUSD.

RISE Conference in Hong Kong 11th July

The RISE Conference was a gathering of Ethereum enthusiasts, which unfortunately did not align positively with speculator interpretation. From the same daily price chart above, a bearish hidden divergence pattern was triggered, sending the price of the pair tumbling down.

Nifty Conference and Hackathon in Hong Kong 25th July

Traders, speculators and investors did not respond immediately to the Nifty Conference and Hackathon as it was a gathering of developers, so solutions were probably anticipated. However, in the long run, price later signalled a bearish hidden divergence pattern on 31st July as the month winds down to a close.

ETHIS in Hong Kong 8th September

The ETHIS in Hong Kong meet up went on while the ether was in a consecutive bearish trend; however, a couple of days after the event date, a breakout pattern out of a bearish accumulation pattern was triggered.

San Francisco Blockchain Week 10th October

As we enter the San Francisco blockchain week, the price chart is already signalling a bearish hidden divergence pattern.

DevCon in Prague 30th October

Much can’t be said about the outcome of the DevCon conference coming up at the end of the month. Though it’s expected to have a positive outlook for the price of Ether, the only time will tell how speculators will respond to it as the pair still shows bearish sentiment.

Constantinople in October

Fourteen developers concluded to carry out a new upgrade towards Ethereum’s four-stage development plan called Constantinople. Though no particular date is scheduled for this software release, however, developers mention that the software will be made available in October as it is still undergoing compatibility tests. The software upgrade will speed up the Ethereum network as well as lower costs. This release will greatly impact the price of Ethereum; however, we’ll advise traders to look out for breakout or breakdown patterns of bullish or bearish accumulation patterns.

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