Ethereum will Rise Soon
I predict Ethereum to rally hard until next year. Price target $1000 August 2020.
There is a cup & handle pattern that will push Ethereum to the slant resistance line. It will only be a matter of time.
There is a cup & handle pattern that will push Ethereum to the slant resistance line. It will only be a matter of time.
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Ethereum is also at an area of strong support - 200 daily SMA, along with the pink trend line and horizontal purple support. The cup and handle pattern should give more clues that a rally is near.Note
Just a note - I have not been wrong on my previous Ethereum calls.
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Ethereum is being supported by horizontal support, slant support, and the 200 SMA. The last time this happened and there was a huge rally.
This could be a good buying opportunity.
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If Ethereum closes below $191 it is a sign of worry and this idea may fail.Note
More clues on Ethereum's rise -Note
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ETHBTC can still drop another 30%, but it is unlikely.
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This last pic was making note of the descending triangle pattern, which did play out as ETHBTC did lose the support. But I do not think it will reach the target bottom and should reverse.
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I think this is a solid entry for Ethereum. Anything under $225. The $70 seems to be the low comparable to Bitcoin at $3100. Too many indicators lead me to believe in a bull run for Ethereum. Even if I try to look at it through a bearish perspective, I just don't see it going much below $150.
Long term risk reward looks great.
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Another buy signal -Note
cryptonewsz.com/ethereum-price-analysis-eth-is-unlikely-to-get-back-to-its-monthly-high-of-277-anytime-soon/36430/Some idiot is bearish on it and wrote an article on it.
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cryptonewsz.com/wp-content/uploads/2019/08/ETH-1.pngHe doesn't post his charts on TV, but instead on his web site to get traffic.
There is insufficient detail in his chart, just 3 curves drawn, looks like a 3rd grader analyzed it.
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Quite an unfortunate situation - I will be holding onto my position though. Possible recovery around $150. I may mark this idea dead in a few days.
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One of the hardest things to do is to pin down a reversal, and there's a high likelihood to be wrong, but I still think a bull run is inevitable for ETH.Trade closed manually
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