EthereumLong
Etherem 2.0 + Altseason can push Ethereum like Bitcoin did
Updated
The required Ethereum staking amount has been hit a couple of days ago which was around 554.000 ETH.
This target was hit way faster than Vitalik thought at first and so ETH2.0 can launch sooner than most thought.
IMO PoS is a better consensus than PoW in general and surely for price increase.
Although the process will take somewhere between 1-2 years to fully implement on the whole mainnet, the price may increase already fast.
This is because BTC dominance reached a resistance area and altcoins have A LOT of room to grow still despite having a recent pullback.
Altseason already began and imo most broke out of longterm technical patterns.
For ex:
XRP broke out fantastically out of Head & Shoulders pattern with 142% increase even causing down time at Coinbase.
ETH2.0
ETH2.0 staking will allow people to earn interest on their holdings causing people to hold their assets rather than selling.
ETH2.0 itself will bring a lot of improvements to its smart contracts and will change existing projects that are already running on the network.
IMO it is a good time to jump in on Ethereum with some alternatives like VeChain and NEO in your portfolio which are good alternatives to Ethereum.
Remember that implementing this new version will take about 1-2 years.
Technical
Once Ethereum reached my second target there is alot of room to quickly gain volatility to my third target.
A retest to $440-450 is very realistic and would be a very good zone to jump in on Ethereum IF it touches this zone.
The first target is a little bit harder to break through because of the possible amount of supply available at this zone.
This target was hit way faster than Vitalik thought at first and so ETH2.0 can launch sooner than most thought.
IMO PoS is a better consensus than PoW in general and surely for price increase.
Although the process will take somewhere between 1-2 years to fully implement on the whole mainnet, the price may increase already fast.
This is because BTC dominance reached a resistance area and altcoins have A LOT of room to grow still despite having a recent pullback.
Altseason already began and imo most broke out of longterm technical patterns.
For ex:
XRP broke out fantastically out of Head & Shoulders pattern with 142% increase even causing down time at Coinbase.ETH2.0
ETH2.0 staking will allow people to earn interest on their holdings causing people to hold their assets rather than selling.
ETH2.0 itself will bring a lot of improvements to its smart contracts and will change existing projects that are already running on the network.
IMO it is a good time to jump in on Ethereum with some alternatives like VeChain and NEO in your portfolio which are good alternatives to Ethereum.
Remember that implementing this new version will take about 1-2 years.
Technical
Once Ethereum reached my second target there is alot of room to quickly gain volatility to my third target.
A retest to $440-450 is very realistic and would be a very good zone to jump in on Ethereum IF it touches this zone.
The first target is a little bit harder to break through because of the possible amount of supply available at this zone.
Note
Price absolutely destroyed the first target with HUGE strong candle! 825-785 USD is now support and is very unlikely to break.Note
Target 1 & Target 2 broken in one single weekly candle. Currently rejected at ATH, won't take much to break it like Bitcoin did.
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.