ETHUSD (Ethereum) – Week 34 – Touched the support and now upside
Ethereum founder Vitalik Buterin is ultra-bullish on the crypto’s future, especially after the recent London hardfork and the EIP-1559 implementation. During his ongoing live interview, Buterin said that he expects the ETH price to be 10x from the current levels. Meaning, the ETH price will touch a massive $30,000 level by the year-end. It means that Ethereum (ETH) will be having a staggering $3 trillion valuation making it larger than all of the Big Tech companies in the world.
Coinbase is in the news today after it announced that it will be putting $500 million into a diverse basket of cryptocurrency assets. This basket will include top digital assets such as Bitcoin and Ethereum. In a recent blog post, the top American exchange revealed that apart from its commitment of $500 million in cash and cash equivalents, it will also allocate 10% of quarterly net income into a diverse portfolio of crypto-assets.
From a technical perspective, Ethereum made the correction that we were anticipating in the last week’s report, stopped at the support level of $3k and now it seems like it is in consolidation for the next leg up. We give a higher probability for a continuation to the upside for this pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Coinbase is in the news today after it announced that it will be putting $500 million into a diverse basket of cryptocurrency assets. This basket will include top digital assets such as Bitcoin and Ethereum. In a recent blog post, the top American exchange revealed that apart from its commitment of $500 million in cash and cash equivalents, it will also allocate 10% of quarterly net income into a diverse portfolio of crypto-assets.
From a technical perspective, Ethereum made the correction that we were anticipating in the last week’s report, stopped at the support level of $3k and now it seems like it is in consolidation for the next leg up. We give a higher probability for a continuation to the upside for this pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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