ERC20 Tokens have been booming! However what good are these tokens without the network on which they were built? Based on current TA, and the mass accumulation of these tokens running on the *Ethereum network. I believe a well deserved ETH rally could be within the near future. Possibly sending us up over that 1k milestone.
My Analysis: After a recent rally, ETH is now attempting to break back up into its previous upward channel. IF we break back up into the channel I have a main target set at $1218. Possible resistance levels are also shown above. IF we fail to break back up into the channel, I expect a small retracement back into the 764-854 zone. I believe this could be an excellent entry zone for any long term investors.
Something to consider: This analysis is dependant on the current BTC trading conditions. At the time of this post, BTC seems to be stable. IF BTC continues to breakdown. This TA will likely become invalid.
Happy New Year and I wish you all the best of luck!
DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Trade active
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Trade closed: target reached
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Price overshot target by $6 ... Cheers if you were able to close in this area! BTC: 1MLnVPqebcFTqYEVAKm9dSCRWhyNDmAb5W ETH: 0xEEcD7Ce6E22AfA6083074c4CCd326Be0b1C932d9
@AntiqueSoul, target was hit so this trade was closed. IF history repeats itself, ETH should see a nice bullrun this year as well
ASantosR
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Damn, that's a beautiful chart! #tagoals
Bagad
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good but i think target 1000 would be better
osb40000
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@Bagad, 1k is a low target, fine for short term but even just a few weeks out $1,250+ looks like it will happen. Yes, low volume now but most of the recent ETH run ups have been low volume.
dent77x
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Good call. I dont see why this would not be correct. Im in!
Happy new year!
osb40000
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Spot on. $1250 ETH is soon to be a reality. $750 isn't a bad entry point by any means.