ETHUSD Channel to 2X Price In Twelve Days
Updated
ETH is making a steady, parabolic break out in search of a new valuation well above its previous all time high. I expect ETH to remain within the bounds of this parabolic channel in route to doubling over the next twelve days.
The price could test support slightly below or resistance slightly above this channel.
As to precise timing, ETH could make this move even faster—in seven or ten days—but the curve suggests price doubling to $2,500-$2,800 by February 1, 2021.
The price could test support slightly below or resistance slightly above this channel.
As to precise timing, ETH could make this move even faster—in seven or ten days—but the curve suggests price doubling to $2,500-$2,800 by February 1, 2021.
Comment
I want to admit again that this parabolic channel has broken down, but parabolic growth is still possible for ETH in the short term.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.