$ETHUSD - Eth 2.0 Dilemma
Updated
Hi guys! 👋🏻
🔔 Ethereum is ongoing a historical metamorphosis of it’s network transitioning from the PoW to the PoS consensus. To start the chain, the deposit contract should receive a total number of 524,288 ETH from validators, total 16,384 deposits (32 Eth each) by November 24.
🔔 So far the deposit contract address on a popular transaction scanner shows that only 50,401 Eth worth of $22,787,804.13.
🔔 Looks like ETH holders are still couunting on the soar of the ETHUSD and are looking to make profit from trading.
🔔 As seen on the chart, ETH/USD has formed a symmetrical triangle pattern. As a general rule, one should follow the price action of the pair and wait for a breakout from either threshold of the triangle. Since, the price currently is holding near the upper threshold, breakout could be confirmed anytime soon.
🔔 Key level to watch if the breakout from the ascending channel is confirmed is $477-$500, if the price breaks the lower threshold of the triangle, the price might as well drop to $431 and below that to $416.
🔔 Ethereum’s price surge was not mainly supported by the Eth 2.0 transition, although it played a significant role, but was rather backed by the weakening US Dollar and uncertainties in the market followed by the US Presidential Elections. The election is still not over and the tension still remains, especially over Biden’s stimulus plans and Trump’s lawsuits, hence the price of Ethereum might as well continue to grow.
🔔 The postponement of the Eth 2.0 launch may hit the price, hence I highly recommend you guys to stay up to date to the Ethereum announcements on November 24, it's only 2 weeks away and 10X ETH are required, achievement of which is under a huge "?" mark.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Ethereum is ongoing a historical metamorphosis of it’s network transitioning from the PoW to the PoS consensus. To start the chain, the deposit contract should receive a total number of 524,288 ETH from validators, total 16,384 deposits (32 Eth each) by November 24.
🔔 So far the deposit contract address on a popular transaction scanner shows that only 50,401 Eth worth of $22,787,804.13.
🔔 Looks like ETH holders are still couunting on the soar of the ETHUSD and are looking to make profit from trading.
🔔 As seen on the chart, ETH/USD has formed a symmetrical triangle pattern. As a general rule, one should follow the price action of the pair and wait for a breakout from either threshold of the triangle. Since, the price currently is holding near the upper threshold, breakout could be confirmed anytime soon.
🔔 Key level to watch if the breakout from the ascending channel is confirmed is $477-$500, if the price breaks the lower threshold of the triangle, the price might as well drop to $431 and below that to $416.
🔔 Ethereum’s price surge was not mainly supported by the Eth 2.0 transition, although it played a significant role, but was rather backed by the weakening US Dollar and uncertainties in the market followed by the US Presidential Elections. The election is still not over and the tension still remains, especially over Biden’s stimulus plans and Trump’s lawsuits, hence the price of Ethereum might as well continue to grow.
🔔 The postponement of the Eth 2.0 launch may hit the price, hence I highly recommend you guys to stay up to date to the Ethereum announcements on November 24, it's only 2 weeks away and 10X ETH are required, achievement of which is under a huge "?" mark.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Trade closed: target reached
Target 1 reached, though 5th wave is yet to be completed.Trade closed: target reached
TP2
Nothing is true, everything is permitted.
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