I subscribe to a traders community where Shit-Coin fiends are posting entries into Alts that then go parabolic a few weeks later down the line. ETH is just one of many Shitcoins that have been hitting the brightlights recently, all of which plummet right back down the way they came, never to even come close to their former heights, for months and months.
I know of around 10 people, who bought ETH way down at 0.001, who all have their final sell orders up at 0.01........I know this, cos they are all following the same guys fkn trading plan!!!
Strange though, how the market is stalling at this benchmark price point....
.....I am sure it will go through it, in one last almighty pop....but man oh man...you better have your sell order ready when it does. There is a whole mass of profits needing to be harvested here.
The problem with this is that you are ignoring the technical aspects of ETH. In the end, what defines the price is adoption and usefulness. If ETH proves to be useful for a lot of people, it won' matter if some traders are shorting it.