Ethereum Potential Breakout Soon
Ethereum has seen some solid growth the past month and honestly I wish I owned a little more. It's been testing its all time high recently on the Bittrex chart (tradingview shows it's not quite hit the previous peak yet.
I see a few good things on the hourly chart so let's start with that
Here's some positives which lead me to believe we could see a nice breakout on high volume next few days
- Been in upper bollinger band range for a couple of days now
- Hourly RSI down to upper 50's and lots of room to run in a series of a few massive green hourly candles creating a the vertical portion of a new bull pennant (setting up for a 2nd breakout)
- Holding ascending channel on this time frame and another
Which brings me to the daily chart and it looks pretty damn good too.
Here on the daily we have
- An ascending channel that started back in early December
- Has remained in the upper bollinger band region the vast majority of December except a few lower wicks
- RSI at 77 (approaching overbought on daily) but with cryptos 90 isn't uncommon peak for RSI before pull back needed
- Significant increase in volume the past month
As far as the larger market cap coins, I think ETH is gonna provide some good gains (and BCH) in the short and medium term at least. I'm holding all that I have right now which isn't as much as I'd like to have but I'm still happy to HODL it!
And finally, we have ETH back at #2 market cap (ranking source https://coinmarketcap.com/) as it surpassed Ripple. We'll see how those two fight it out for the #2 spot in the weeks to come.
Another wave is coming folks. And not just for ETH. We're about to have the floodgates opened to whole new round of funding coming into the market. Just one example....Kraken is prioritizing increasing account verification levels and looks like they are looking for more tier 4's based on their blog post recently (Image below from their blog https://mail.google.com/mail/u/0/?tab=wm#inbox/160f1130f9b66390g).
Tier 4 is for big fish.
Upgrades are being done everywhere in cryptoland. Good time to have gotten in 2017 was. Of course we all wish we bought bitcoin years ago but that ain't the only ship that's gonna sail into wealth for crypto investors..
Onward and upward!
This does not constitute advice to go buy any crypto or any other investment and is for entertainment purposes only. Never buy based on something that some guy on the internet said. Do your own research and if you need guidance consult a financial professional. I am not responsible for your losses or gains for that matte.
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ETH's price's end of 2018 forecast is around $2,000, - 3,000 on the low side and $4,000 - 5,000 on the high side.
Yep that sounds pretty reasonable to me. I think we're gonna see another good sized wave (above 1400) within the next month or two. It'll be interesting to see where everything is at the end of this year.
eth is looking non stop right now. the difference between btc and eth price is going down day by day
Yes I think more people are becoming disenfranchised with BTC at the moment due to slow transaction / transfer speeds and the ridiculous fees. Then we have ETH which is a good bit faster and the fees are much much lower. I'm really not terribly bullish on Bitcoin and if I had to pick between only owning one or the other (BTC or ETH) Ethereum would be a no brainer.
No offense to loyal BTC fans...
exactly too high transaction fees and too many forks along with fear and uncertainty has put btc on backfoot for a while let see how long this hual goes out
Yep there’s a reason that the btc price has been so stable (relatively) lately. Idk that we’ll see a retest of the all time high on bitcoin any time soon. These folks calling for $500k btc May wanna revisit their expectations.
Nice @cryptokeepr... Thanks for sharing.
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