ETH target for the top of this bull market is 14000.
Ether has strong technicals and fundamentals currently. EIP 1559 upgrade should propel ETH much higher. I believe ETH will outperform BTC over the next 10 months. My target is 14000 sometime between mid November and mid January. This is based off of forward looking Fibonacci retracement model and comparing current ETH price action to BTC in July 2017.
ETH total marketcap target at the top is roughly 2 trillion.
Resistance levels 2041, 3550, 5700, 9200, 11650 and 14000.
My plan is to exit between 25th November and 5th December 2021.
ngordon
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@TheWiseCookie, It is always wise to have an exit strategy in place. My plan is to look for Bitcoin to top and guage how far along ETH is int he cycle. In the last cycle, ETH topped about a month after BTC but I have no idea if that will repeat. The eth/btc pair topped out well before the overall market peak for ETH and BTC so that will be something to watch for also. If ETH nears 0.1 BTC, I will consider dumping all my alts into BTC. Overall, I would love to be out of 95% of my crypto by the end of the year.
Cryptodasher
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@ngordon, wouldn't it be crazy if for this cycle, eth is leading btc and therefore tops out a month BEFORE BTC opposed to after. ETH has either lead or moved separately from BTC for MOST of this cycle so ijs
ngordon
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@Cryptodasher, that would be pretty crazy. It would catch people off guard. I am looking for an eth/btc top to get out of my ETH rather than an ETH top. I'm not sure they will coincide. They didn't last time. For me this means scaling out of ETH anywhere above 0.08/btc.
jasonsilver
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I'm bullish on ETH with a price target at 9k. I just don't see the market cap of ETH being larger then the current market cap of all coins today. Love the bullishness
ngordon
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@jasonsilver, Hi, thanks for your reply. I think eth is a huge black hole for all things crypto. A lot of developers have been building on Ethereum since 2016 or earlier. This network has a huge head start on others and has entrenched itself as the leader in all blockchain apps. I don't see ETH overtaking BTC's marketcap but I do think total cryptocap could move upwards of 8 trillion this cycle with a move to 10 trillion possible. In that scenario, BTC dom could fall to 50-55% while eth climbs to 18-25%. This ETH dom climb would put it's marketcap near 2 trillion. That is how I see things going forward in the next 10 months or so.