$ETH
Added 2024-01-07 12:13:22 +0000 UTCI have attached the weekly and daily chart here.
On the daily we can see that the 50 Day MA is the solid support level here and even with the "Cramer" sharp decline last week, it recovered instantly and is now back above the 50 Day MA support level.
On the weekly:
The last time the 50 Dma crossed the 200 Dma on the weekly chart was on the 28th of December 2020 and $ETH jumped 1437% The 50 Dma has crossed the 200 Dma on the weekly chart again on the 4th of December 2023.
Similar dates, same set up...
There is more talk that the SEC will approve the $BTC ETF by this Wednesday....this could be a major catalysts for the largest Cryptos.
Comments
Thank you both, and thank you Brad for the detailed breakdown. Unfortunately, I am limited to my 401k, so $ETHE is my only option. Also in GBTC for bitcoin, but hoping that we get the spot bitcoin approval so I can go to one of those. Also in some proxies, ie MSTR and some miners. Have a great rest of your weekend.
Steven Richards
2024-01-07 22:58:48 +0000 UTCSteven - IMO the best approach wld be to buy ETH directly on Coinbase (or even Paypal, which provides BTC, ETH and LTC purchase options). The discount to NAV is a big risk with current Grayscale products (some trust offerings are trading at premium due to low liquidity, etc - would not touch those. LTCN is good example of latter: trading almost 3x NAV now. Only 17mn shrs issued/outstanding). That said, if you are investing via IRA/401k, $ETHE is only option. Now trades at around 10% discount to NAV. Better to invest at discount than the nearly 10x premium it was enjoying in 2020 (anyone buying & then holding at that peak was not able to break even until ETH came close to all time high in 2021).
BradM
2024-01-07 19:41:52 +0000 UTCI don’t see any reason why not
Gareth Neary
2024-01-07 18:34:34 +0000 UTCIf we can't buy $eth, how do you feel about the Grayscale ETF $ETHE?
Steven Richards
2024-01-07 15:27:08 +0000 UTC
