It is very quiet in the Ethereum market, too quiet. The price of Ethereum is moving in a tight range, much tighter than any time before since the first days of this year. In the last 6 months Ethereum (and cryptocurrencies in general) have seen a lot of volatility. In recent days there is no volatility whatsoever anymore.
A lot of that has to do with the upcoming Bitcoin fork. It is a matter of days until it will be clear whether Bitcoin will undergo a hard fork or a soft fork. The latter will be bullish for cryptocurrencies, the former presumably not. The deadline is August 1st, so we are very close to a resolution.
Up until now it seems there is a high probability that a soft fork will be realized. That is the reason why Ethereum’s price keeps on hovering in that right range between 200 USD and 250 USD.
Our expectation is that all cryptocurrency prices will start trending once it becomes clear in which direction Bitcoin will evolve. Ethereum will not be any exception to that, on the contrary.
This is not a time to become defensive nor aggressive. This is a time to lay back and prepare your action in case of a bullish or bearish scenario, prepare your wishlist in both scenarios and continue your research in profiting from the mega blockchain wave (very long term).