This thread had its last discussion almost an year ago. By that time the price of ethereum was within the range of $150 - $250. The growth from that point have reached the value higher than $600. The market has now started to move gradually along with the bitcoin price move. As a result with the decline in the price of bitcoin there is drop in the price of ethereum reaching close around $500.
Drop is normal for a market which has recently hype, bitcoin has dropped, so is ETH.
From $150, or even below $100, I saw it and I felt that one time people has lose their faith on ETH, but then it started to rise and slowly it's moving to a bullish direction, so I guess ETH is due for an increase of $1000 and reach a new ATH but the question would always remain, when it's gonna happen?
We never know, we speculate but there's no guarantee, but if we keep holding, we will certainly enjoy when that moment comes.
Look at the 3 current candles of the ETH, all of it are red which means the the sellers are manage to overcome the buyers. The current price of the ETH is $497, there is a major support in that area so I want to see that the ETH will hold above $490. For me it is the best time to sell because in the current price of the ETH there is a high demand so my expectation that it will create another swing high and there is a high possibility that it can beat the new resistance area at $622. There is also a possibility that the price may do long consolidation first before it break and manage to surpass that area.