ETH Lifetime Analysis - One More Drop Then New All-Time Highs?
Ethereum is comfortably above its bear run low of around $850, but are we going to new all-time highs in the short term?
I doubt it.
Reviewing the lifetime charts for Ethereum and Bitcoin, they both made contact with their lifetime support before hitting new all-time highs. As we can see on this chart, Lifetime Support is at $700, we're a good distance from that price. I believe Bitcoin will suffer the same fate and fall to $20,000 or so before it sees new all-time highs.
Ethereum has another support zone around $850, where the last bear run ended. I expect the price to fall at least to $850, maybe $700 before we see the next bull run. ETH will likely follow Bitcoins lead into 2024 after the Bitcoin halving, and we will at least see the next bull run if not new all-time highs.
Key Points
1. ETH has not touched Lifetime Support
2. Gap to close to Previous Support
3. Lifetime support around $700
4. RSI near Lifetime Support
5. Look for one more pullback before the bull run.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
I doubt it.
Reviewing the lifetime charts for Ethereum and Bitcoin, they both made contact with their lifetime support before hitting new all-time highs. As we can see on this chart, Lifetime Support is at $700, we're a good distance from that price. I believe Bitcoin will suffer the same fate and fall to $20,000 or so before it sees new all-time highs.
Ethereum has another support zone around $850, where the last bear run ended. I expect the price to fall at least to $850, maybe $700 before we see the next bull run. ETH will likely follow Bitcoins lead into 2024 after the Bitcoin halving, and we will at least see the next bull run if not new all-time highs.
Key Points
1. ETH has not touched Lifetime Support
2. Gap to close to Previous Support
3. Lifetime support around $700
4. RSI near Lifetime Support
5. Look for one more pullback before the bull run.
You are solely responsible for your trades, trade at your own risk!
Let us know what you think in the comment section below!
-Joe Dean
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