Predicting the price of ethereum towards the end of 2017

adforcash (25)in #predicting • 7 years ago

We will try to predict where will ethereum’s price go towards the end of the year, using analysis based on the rate of rise of ethereum during the past 6 months. To do this, we will use the “Gann Square” to predict the price of ethereum towards the end of December, 2017. It is worth mentioning that Gann’s chart analysis techniques are rather complex and use a combination of mathematical, calculus-based and even astronomical analysis methods.

Let’s take a look at the 1 day ETHTUSD chart from Poloniex, and plot a Gann Square starting from the 1st of March, all the way down to today (14th of June) (Look at the below chart). Now, let’s plot a trendline that extends between the candlesticks corresponding to March 1st’s and June 14th’s trading sessions. Now, we can predict the price of ethereum towards the end of December, by extending the trendline to intersect with Gann’s rings. As we can see on the below chart, ethereum can hit $1200 by the end of the year, if it keeps rising along the same rate of rise during the past 3-4 months.