This headstart led to a big market dominance compared to its competitors like Cardano , Solana, Cosmos, etc.
– The main issue is the scalability and therefore the transaction fees which are way to high at this stage.
– Ethereum still is the first choice after Bitcoin for big investors and remains attractive.
– SEC confirmed that crypto will not be banned and especially Bitcoin and Ethereum will not be banned.
– 2 billion worth of Ethereum burned since August.
Daily chart:
– Price currently breaks the last resistance before we find ourselves back in price discovery .
– Volume keeps decreasing and can be considered the calm before the storm when finally new ATH’s are printed.
– RSI analysis shows that we are in an uptrend and consolidating. Nowhere near the 80 line yet and therefore still much room to grow.
– Support lines are at 3950$, 2850$, 1750$ and 1350$.
– Resistance is seen within the region 4100-4300$. Afterwards clear sky is ahead.
Expectation:
– We expect that Ethereum breaks free any moment and 5k$ is reached within the next 4 weeks without any problems.
– Once we print new ATH’s and price starts moving FOMO begins and we can enjoy the ride.
– More and more people get heavily into Bitcoin and start pondering about their next investment. Taking Ethereum as next seems very likely.
– End of the year prediction: We will see a 10k$+ Ethereum before the end of 2021.
Basic rules:
– Never buy the top/ ATH
– Take profit as long as you can (also partial profit is profit)
– Use Stop/loss for leveraged positions
– If you are not experienced, don’t leverage in the first place
Enjoy the ride and don’t be too greedy.
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ps.
Chart explanation:
Main lines:
– Green lines are tested support lines.
– Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
– Cyan line is for volume trendline.
– White lines are Fibonacci retracement levels
Helplines:
– Purple lines are trendlines we take a look at.
– Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
– Yellow lines are for visual help only.
Specials:
– Boxes represent either entry zone or support zone . Check the description.
– Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
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