ETH is forming one of the most bullish pattern, A Cup and Handle formation which is a bullish continuation pattern and has a success rate of 61-63% on a daily time-frame.
The pattern points to New ATH and potentially the possible targets of $8k - $10k (rest all targets are mentioned on the chart) and the time duration under which these targets will be achieved lies in between 3-5months, in short Q4.
Other factors besides TA that can lead to this explosive move are :-
1) First and foremost, the increase in the institutional shift.
2) Secondly, the soaring NFTs craze which is attracting lot of deep pocketed investors to its market.
3) The net amount of Eth leaving exchanges hitting new records.
4) The Altair upgrade which is scheduled by the end of October.
5) Big Financial services giants like JP Morgan and Grayscale are reportedly saying that the Investors are opting for Ethereum over Bitcoin.
There are many other components like Gold and other commodities are experiencing outflows as investors are moving to BTC and ETH, burning of ETH transaction fees, proliferation of scaling solutions etc. and almost everyone in the cryptospace knows that a new ATH is coming and ETH will be entering the price discovery mode. If all these factors are not enough to push the prices to the crazy, most awaited bull run of Q4 that everyone has so desperately longed for then idk what will.
However, there are lots of risks involved so don't forget to DYOR as this isn't a financial advise.
CryptoCuriousOfficial 📥
The pattern points to New ATH and potentially the possible targets of $8k - $10k (rest all targets are mentioned on the chart) and the time duration under which these targets will be achieved lies in between 3-5months, in short Q4.
Other factors besides TA that can lead to this explosive move are :-
1) First and foremost, the increase in the institutional shift.
2) Secondly, the soaring NFTs craze which is attracting lot of deep pocketed investors to its market.
3) The net amount of Eth leaving exchanges hitting new records.
4) The Altair upgrade which is scheduled by the end of October.
5) Big Financial services giants like JP Morgan and Grayscale are reportedly saying that the Investors are opting for Ethereum over Bitcoin.
There are many other components like Gold and other commodities are experiencing outflows as investors are moving to BTC and ETH, burning of ETH transaction fees, proliferation of scaling solutions etc. and almost everyone in the cryptospace knows that a new ATH is coming and ETH will be entering the price discovery mode. If all these factors are not enough to push the prices to the crazy, most awaited bull run of Q4 that everyone has so desperately longed for then idk what will.
However, there are lots of risks involved so don't forget to DYOR as this isn't a financial advise.
CryptoCuriousOfficial 📥
