Ethereum's historical behaviour shows us some charting patterns that represent triangles that have a high volume of volatility relative to price. Once resolved these triangles break with a large upside move. In sequence the Ethereum pattern looks a bit like a kite flying in the wind with a tail showing all those little triangles before the next upside. Some of the breakouts resulted in price increases of approx 100-600%.
The recent triangle that lasted from September to late November has been the largest to date and I expect the upside to represent at least a 100% price increase. For the medium term I'm setting a target of $600-800.
Usually there are still large price swings in Ethereum, especially after big moves to the upside. A clever approach here would be ready to sell picks and buy back in at the dips up to $800.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.