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We see a lot of price volatility and rapid price movement happening in the Ethereum 15 minutes timeframe. These rapid movements are causing a lot of fakeouts and false patterns that go no way.
The increase in volatility is caused by the U.S Mid-Term Elections currently going on today across the states.
How the results come out after this election might have a major effect on the crypto market as we might see a range of policy changes come into effect for the United States.
However, in this Ethereum analysis, I will be breaking down what the ETH bigger picture looks like and why we believe Ethereum has a lot of potentials to rally higher in the coming days.
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Ethereum Bigger Picture!
The bigger picture for Ethereum is still bullish for us. However, there is great way to be able to catch that trend and stay with it with all this massive whip saws in price currently being caused by the on going Elections.
So for now, we will be standing aside and waiting for this massive whip saw moves to die down. This way can get a better image of what the ETH traders are actually doing.
Final Verdict!
Ethereum is currently too volatile. This voalatility was casued by the ongoing Mid term Elections currently happening in the U.S.
Depending on how the election goes we might see a few policy changes that could easily boost the development, growth and aceptance of cryptocurrencies worldwide.
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