ETH is now in an extremely low position. How good is the idea to buy it now?
I think the whole market is in extremely low position. ETH is still 15% of its All time high. See some other coins like NEO which is just 5% from it's all time high or even XRP 8% from its All time high. But the problem is that no one is going to buy them until they start generating some utility or there is another december 2017. We now have over 2915 cryptocurrencies and most of them are less than 3-4% of their All time high and this is not because market is down it's because they are useless piece of codes. ETH has proven a bit useful but it still not worth a buy as of now.
Based on my Technical Analysis on a 4 hour time frame the price of ethereum has been showing a good sign of recovery the sentiment of the price is turning bullish a rallying point for buyers coupled with the fact that price repeat itself historically the bouncing back of eth is imminent I would rather buy now and hodl before it pumps to the next support based on it volatilty.
Can you please share your chart of your Analysis I feel that the daily chart too looks great with a MACD crossover just about to happen from below of the histogram this means that it could be pumped at any time from now. So I think ETH could go upto $200 from here. Moreover this is a technical approach not a long term advice to buy ETH is still not worth buying for long term as of now.