AN AMAZING TRADE ON ETH/EUR!ETHEREUM TARGETING 2.500 EUROS!!!Hello traders,
I hope you are doing great!
A trade we have also shared on the V.I.P group 9 days ago is starting to follow our prediction.
Of course we are long term holders of the Ethereum coin but because of this pattern forming and the lagging character of the Ethereum in comparison with Bitcoin we took place in this more short term trade.
Technical Observations
1.Fisrtly we are in clear bull market in cryptos and in Eth/Eur also.
2.We can the ascending trend line that kept as support various times with buyers coming in aggressively.
3. We can clearly see the triangle pattern formed.
4.We can also notice the Macd recharge to zero level without making lower lows and that's statistically is a very bullish sign.
5.We project the previous impulsive move before the consolidation pattern and we found the first target as an extension at psychological round number of 2.500 Euros per coin.
Fundamentals Observations
1. CME Ethereum Futures.
The arrival of Ethereum futures will ultimately bring more maturity to the crypto market and, although futures are not physically delivered, greater liquidity. This is beneficial because it will give institutional investors in particular the opportunity to hedge spot positions, which reduces overall risk and in turn makes Ethereum a much more attractive investment.
2.Ether Burning Fees.
EIP 1559 is an Ethereum Improvement Proposal put forward by the project’s co-founder Vitalik Buterin, along with developers Eric Corner, Ian Norden, Rick Dudley, and Matthew Slipper, to implement changes to the way ether transaction fees are presented to users, as well as the management of ethereum’s supply. EIP 1559 suggests scrapping the current auction-style fee system in favor of an algorithmically determined base cost, called the “BASEFEE.”The idea is this will encourage the steady deflation of ether, which, in turn, should help bolster prices over time.
3.Ethereum 2.0 Rollout.
While there is no confirmed date for the launch of Phase 1, it’s expected to arrive sometime this year.
INITIAL ENTRY WAS AT 1342 EUROS
SECOND POSSIBLE ENTRY AT THE RETEST AT 1575-1600 LEVEL
TP1 2500 EUROS
TP2 3000 EUROS
INITIAL STOP LOSS 1265 EUROS
TRAILING STOP LOSS 1420 EUROS
RISK/REWARD 10-15!
