Hello, Everyone. The prince is finally waking up. A lot of people have been calling ETH dead, and bla bla bla . ETH is about to show them his middle finger. 2 months ago before this whole rally I predicted that eth would rally to 3400 and then retrace to 2600...well clearly that is what happened (exceeding the expectation touching 3800). The chart is now reviling the next move. ETH has now created a steady volume with spikes on each bear attempt to break the 2900 (failed miserably). The supply is clearly shrinking with the last upgrade which has burned so many ETH and as it can be appreciate in the chart by the bulls taking control with little effort. ETH has now formed a triple mountains pattern (triple bottom in western chart terms). Although higher timeframe looks prime for a run, the smaller need to steam off in my opinion. I believe there may be one last opportunity to catch eth in the 2700-2800 area before to break the resistance at 3100 and start the new bull run. You can see that the 50 and 200 hour MA is now starting to creating a support below the price, this is a great sign in reversal as it is signalling accumulation before high volatility upwards. Also every dip down ETH has been creating higher low with the volume dissipating signalling the bears are exhausted. My final target as I mentioned in June is 20800. That is a 800% increase. My first target is at 7750. Really short term targets are: 3166 and 3566 (they will get smashed). Enjoy the ride guys. If you enjoyed this content and learn something new, please FOLLOW ME here, on twitter (link in the profile bio) and on my new Youtube channel. I am here to share my knowledge and help you navigate and understand the markets. If you have any question or chart request, comment below.
Perfect call here. 20% profit. Well done to all of you that followed. Congratulations
hassanashrafgagai4
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Ethereum is an amazing blockchain, but due to it's high fees it's losing lot's of investors so why is it going up?
CFcryptoTA
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@hassanashrafgagai4 Hi buddy. Yes ETH has high fees, however, most of the projects are still built on it and institutional investors seeking exposure will look at the major crypto, Cardano, BTC, Eth. similarly, the retailer will FOMO in major coins. Nevertheless, after the last upgrade, there has become deflationary, the on-chain metrics also show that there has been heavy accumulation from major whales drawing the majority of the supply. this will create a supply squeeze which will increase heavily the price of the asset due to the low supply on market compare to the demand. ETH 2.0 will bring staking with 5% interest payments, which will increase the appetite for crypto. Canada is looking at creating an ETF with BTC and ETH which will further open the door to institutional investors. Company which will accept BTC will likely also accept ETH payments (Twitter etc...). also there are already new solutions such as a name which are lowering the transaction cost of ethereum. Nevertheless, herd psychology will drive the price up due to FOMO. Don t forget that there is little rationality in the last phases of the bull market, where investors are in a frenzy mode. I hope this makes sense.
hassanashrafgagai4
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@CFcryptoTA, Thanks for the input it does make sense now.
CFcryptoTA
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there are some misspellings due to the autocorrection mode. sorry about that.
Good work. Your final Etherium prediction of 20800 would put its market cap at 2.4 Trillion, over twice that of BTC. Long term do you see Eth overtaking BTC, or BTC to go parabolic if Eth also hits your predictions?
CFcryptoTA
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@llmikeybll Hi bud, thanks for commenting. I don't think ethereum will replace BTC anytime soon. BTC will go parabolic and there will follow. my final target for BTC is 165k with the first target of 90k. You can check my chart on BTC if you like and you will see my view on this bull run. it s going to be great. BTC is still the king and if BTC falls all the market will get dragged down with it.