TradingShot

ETHEREUM to $800 before the end of the year

Long
BITFINEX:ETHUSD   Ethereum / U.S. Dollar
ETH has reached an important support level consisting of both the Higher Low of the 1W Channel Up that started with the 2018 bottom and the MA200. This technically creates the ideal long term buy entry.

Since the 2019 uptrend strategically and methodically targets the Lower Highs and Lower Lows of the 2018 Bear Cycle, it is logical to assume that the next target for Ethereum is $800.
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Comments

It is hard to get excited about ETH when the ETHBTC ratio is still in free-fall.
+3 Reply
@BDG, it might sound a bit optimistic but I do think we will be seeing a nice rise of ETH though and $800 is not as impossible as it might look today. I wrote a bit about ETH vs BTC potential. You can click on this graph if you want to know more:

Will write soon about how I see the ETH price evolvement in the midterm timeframe also.
+2 Reply
@BDG, here you go. Analysis has similar longer-term potential as stated by Tradingshot and puts a midterm one around $400.

I suggest checking the comments in the link also since they show more of a perpective.
+1 Reply
BDG Samoto
@Samoto, sure ETH may go higher, but if it doesn't do better than BTC, why bother? If the ETHBTC ratio remains bearish, I can make more money going long with BTC. If ETHBTC turns bullish then and only then will I consider buying ETH.
Reply
@BDG, agree we are searching for better potential gains. It only depends on what time frame. It can be a short time frame trading opportunity to go from one asset to another and back. So depends on what timeframes we are considering bearish/bullish. Here is a recent example where ETH was more profitable to trade in the general bearish ETH/BTC.

If a person is taking mostly mid and long term trades than for sure I agree the trend change is the key.
Reply
Samoto Samoto
sry, the wrong graph now. this is the one what that happened
Reply
Samoto Samoto
sry again. it's late here. above is the one where we were in general bearish trend but could still get better potential profits from going into ETH position instead of BTC position.
+1 Reply
BDG Samoto
@Samoto, I'm a short term trader. ETH daily chart is still bearish. I've been shorting ETH since 270 and it was the easiest trade this year. Made some $ without getting whipsawed out like I did with BTC. ETH may retest 213 or even 210 this week. I may go long on ETH after it corrects but only for the short term.
I would have a lot more confidence in ETH if people were actually using its smart contracts en-mass. But the number of actual applications using ETH is few and far between. ETH smart contracts seems to me to be a solution looking for a problem. LOL
Reply
Moment alt coin season comee this is possible for Etheream. ETH marks now are $300, then 500 and then up to 800.
+2 Reply
I don't think that it will happen this year, but eventually it will go there.
+2 Reply
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