The price of Ethereum since May 2018 has been trading in this valley which was created at $788 and found the low at $90 at the end of the year. From here ETH closed out the $470 valley and that was a 2-year, but the real level of resistance keeping the price of ETH down is $788.
After ETH sees a weekly close over $788 its going to the moon and the bull run would officially start. This time its going to be different than 2017 because in 2017 there was the ICO craze with random companies ICO'ing their no actual use case coins and the speculative 20k Bitcoin bubble. This time around, Bitcoin has hit 20k and nobody's lost their minds yet. In 2017 it seemed like everyone and their mom was buying Bitcoin and now nobody is touching it with a 10-ft pole.
I believe this time around there is a whole lot more upgrades done on the network, ETH 2.0 is finally launching, and there is at least 10x more adoption with household name recognition than there was in 2017. There are plenty of factors that would send the price of ETH beyond the previous-ATH.
This summer there were also a handful of DeFi projects that released with the whole DeFi craze. Coins like YFI, UNI, and SUSHI found value as they offer Decentralized Finance services on top of the second most valuable cryptocurrency, Ethereum. DeFi will only keep growing in the future and ETH is the hub for that.
I'm posting this 1W outlook on Ethereum for you guys and myself to come back to look at as prices are soaring, these are my TP levels.
TP1 🎯 $687
TP2 🎯 $788
TP3 🎯 $975
TP4 🎯 $1111
These levels will hit its just a matter of time.
After ETH sees a weekly close over $788 its going to the moon and the bull run would officially start. This time its going to be different than 2017 because in 2017 there was the ICO craze with random companies ICO'ing their no actual use case coins and the speculative 20k Bitcoin bubble. This time around, Bitcoin has hit 20k and nobody's lost their minds yet. In 2017 it seemed like everyone and their mom was buying Bitcoin and now nobody is touching it with a 10-ft pole.
I believe this time around there is a whole lot more upgrades done on the network, ETH 2.0 is finally launching, and there is at least 10x more adoption with household name recognition than there was in 2017. There are plenty of factors that would send the price of ETH beyond the previous-ATH.
This summer there were also a handful of DeFi projects that released with the whole DeFi craze. Coins like YFI, UNI, and SUSHI found value as they offer Decentralized Finance services on top of the second most valuable cryptocurrency, Ethereum. DeFi will only keep growing in the future and ETH is the hub for that.
I'm posting this 1W outlook on Ethereum for you guys and myself to come back to look at as prices are soaring, these are my TP levels.
TP1 🎯 $687
TP2 🎯 $788
TP3 🎯 $975
TP4 🎯 $1111
These levels will hit its just a matter of time.
