Grayscale Ethereum Trust (ETHE) Daily Price TargetsHey traders,
Looking at the daily time frame of ETHE here, if Ethereum can continue its move upwards, we can expect to see a $ 12 price target for ETHE.
At the moment, ETHE by itself is -44% Discount to NAV which means you’re essentially buying Ethereum spot price around $1000.
The $ 8.78 support level has held and i’m expecting that to before this move up and out of the $ 8.78 - $ 9.78 range, and hitting $12.11 as a result of that momentum.
Again, this chart basically depends on the spot price of Ethereum, These targets I have marked are where i’m looking to take profits:
🎯 12.11
🎯 13.89
🎯 15.97
As always please do your own research, this is not financial advice.
Grayscaleethereumtrust
ETHE 51% Discount to NAVGrayscale Ethereum Trust and Grayscale in general for that matter, has been beaten down this year, with the clearest example identified in the ETHE Discount or Premium to NAV (Net Asset Value) which is down -51% to par. Given the current spot price of Ethereum (at the time of writing) at $1,321, this would put the spot price of each Ethereum held by Grayscale in the trust at ~$673 per Ether. This price per Ether is obviously undervalued and the market will pick this back up as the price of Ethereum returns to mean.
Looking at the weekly time frame, the three easily identifiable lows on this chart are at the end of 2019, 2020, and now 2022. This looks like now to be a great buying opportunity or a place to stack onto your position as we’re closing out the year. From here, I’m expecting a return to par value with the share price of ETHE and that should tick it around $12-13 for a fair price.
This chart combines both technical and fundamental indicators so we’ll see how this goes. The contrarian trade or the opposite end of this play is Grayscale and Coinbase are secretly insolvent and this whole trade is a bust / never returning out any physical Ether to shareholders. I’m buying at these levels for some exposure in my stock trading brokerage as it’s a 51% discount to spot price of physical Ether, again would be the ultimate goblin level lows for Ethereum at $673-688.
As always please do your own research, I am not a financial advisor and this chart is for educational purposes only.
ETHE Grayscale Eth: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Grayscale Ethereum Trust (ETHE).
The chart is self-explanatory. Price has been moving in a Descending Parallel Channel. It broke down from a Multi-month support line now resistance and may go back up for a re-test. The RSI also looks like it may be going back down to re-test the S/R line. A Death Cross may be a possibility coming up.
Included in the chart: Trend line, Support and Resistance Lines, RSI, Descending Parallel Channel, Death Cross, Simple Moving Average, Volume, Bull Trap, Volume Profile Visible Range (VPVR).
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
I have additional charts below on cryptocurrencies, stocks and more to review. Check them out!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
