How High Will The Price of Ethereum Go on This Run?
Looking at the daily chart of ethereum price there are some upside target both near and far.
We've seen quite the run from the mid 300's to the current price of $600, but how much more room to the upside is there on this specific move?
Upside Targets and Pivot Points
When looking at the chart we can see alot of reversal points that are not confirmed as resistance because they are not been revisited since the big bear market of 2018.
The $825-$830 area is a clear resistance that we saw price bounce off of on the way up in late 2017, fail and crash through in 2018 and then fail to break through on the price bounce in 2018.
So that target is not only clear, but quite a ways from the current price.
Closer levels?
Looking at the chart you can see I have the $625 area marked. During the drop in 2018 that was a point where price had rallied and then ran out of steam there. It was also a price that saw a spike rally off it in early 2018.
This price also happens to be just $20 of so points from the current price.
Will it play out as any kind of resistance, who knows? But it was a pivot point in the past so it is atleast worth keeping an eye on as this current move gets rather extended in the short term with the need for a place to consolidate.
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My gut feeling tells me $800 by the end of the year. If it gets to $10,000 by the end of the bull market, it has to continue its march.
Who said is it going to $10,000?
Some guy on the internet. Hope he's not right because I don't own any coin... Swapped it for shitcoins.
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Hahaha, gotta love them shit coins.
If ETH goes straight to 800 in a moonshot then we are gonna see a crazy volatile market to start 2021!
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2021 will be both volatile and crazy
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It's going up like crazy. Since I was not around in 2017, it is amazing and dizzying to see everything going green :P
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The Big Wigs over at the LEO discord are throwing $5,000 around, so I am going to go conservative and say $2,500 for now... I mean why not Dec 1st is a week away and ETH 2.0 Contract is looking to overflow.
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Anything can happen. I'm way more conservative with price but I also don't want a repeat of 2017/2018. Charts going vertical are never a good thing when the train runs out of steam!
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I would like it for us and this platform, but I also have my doubts. For the average user, who has little or no interest in cryptography, it is difficult to see any direct added value. I am speaking here from my own experience, having spoken to a large number of people about this project. Besides the lack of benefit for the average user, I also see other problems such as the imbalance in the curation of quality content. Newcomers have a hard time getting into established circles and then getting the original value proposition (Earn something for your social media activity). Again from my own experience, out of 30 people I convinced to test this platform, no one else uses it today.
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Yeah, I'm not sure I see why ETH would moon back to all time highs in the next couple month, maybe eth 2.0 is a bigger catalyst then expected. Who knows!
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Exactly, who knows. We'll see. I am generally very bad with the glass ball and therefore leave it to others :D
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Their are some new developments are going on and yes BTC is also in good mood... so for sure the price will go up what the question is how much.... the time will tell... everyone is waiting for the altcoin bull run...
I personally dont holding ETH...
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Yeah, ironically I hold more ETH than I normally would because of LP'ing the wLEO pool. So far that is working out :-)
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I have a long open on Eth from $473. Nice article, I don't think I'm closing before 800.
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Maybe I'm being too optimistic, its not like I own a ton of ETH or something, but if I'm getting this ETH 2.0 thing right, I see no reason why anyone should not be bullish about Ethereum.
To mine ETHEREUM in 2.0, you either need to stake a minimum of 32 ETH or join a mining pool if one owns less, if this isn't a catalyst for a mooning price then I must be missing something.
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Good point. We definately see some ETH leaving the DeFi projects on Uniswap and those who read ETHErscan say it's going to ETH 2.0 Stake Pool. So I also see this as a catlyst to buy ETH and push the price up. BUt at some point some will take priofits, so I wonder if those profit taker sales will be cobbled up by other buyers into the Bull run? Or Liquidity Providers on Uniswap?
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Well, like you said at some point, what point tho? $800 ETH, $2k ETH? 3k, 5k? We might never know.
Moreover, the amount of people who have to make the switch from POw coupled with those who are entering anew will most likely out turn those who are taking profits.
Again, I learnt that stakers who don't own up to 32eth and do so on other platforms will be rewarded in other tokens, instead of in ETHER as done with the former POw pool mining, so selling pressure of ETHER is drastically reduced, perhaps till the full launch of 2.0
All this speak strong fundamentals
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