$2000 Ethereum (ETH) By Early February? Price Discovery Phase

Ethereum is getting really juicy and with much reason. These are very exciting times for Ethereum. As the cryptocurrency market matures many people are realizing Ethereum is not only essential, but a vital part of the entire cryptocurrency ecosystem, especially in Decentralized Finance (DeFi).

We've broken through a major milestone and resistance area since great 2018 boom surpassing trading in the $1300 -$1380 zone. We have an ascending channel developing on the 4 hour for the past week. If this channel and momentum holds we will be at the great psychological number of $2000 by early February or sooner. Of course I say this in a "perfect" case scenario.

We are on the starting line for a new price discovery for Ethereum this week. If the trend doesn't hold we fall back down to previous support levels.
Please understand and take caution that we are also in oversold territory for Ethereum.

Support Area: $1225
Resistance Area: Price Discovery

Cheers everybody! Much peace and love. Happy trading and Investing.

Comment:

Comment: *Please understand and take caution that we are also in *OVERBOUGHT* territory for Ethereum.*

Typo on my part everybody. We are overbought not oversold. My apologies.

Comment:

Ethereum testing that previous resistance area of $1350. Lets see if this previous resistance forms a new solid support level of $1350.

Comment:

We're still riding within that 4 hour channel. The $1350 area is starting to look like it may be turning to a support zone. Ethereum is producing higher lows.

Comment:

We have been hugging that resistance of $1350. Solid support level there. Making higher lows as well. We're still bullish on Ethereum this month.