ETHEREUM POSITIONED TO BREAK ATH BETWEEN JAN 11-17 - EYEING $2K+
Sup winners.
Latest update on ETHUSD - looking at price ranges for when ETHBTC will be reaching the top of its channel (between Jan 17 & Feb 8).
In that time period, we should see ETHBTC arrive between 0.05 and 0.06.
Based on the current channel it's in, we can presume that Ethereum will break its previous ATH within a ~week of today (1/6/21).
Beyond that, Bitcoin's performance will indicate how long and how high ETHUSD will reach.
See my golden dorito.
I am looking at $1740 on the low end and (hold onto your undies) $3415 on the high end.
Is $3415 likely? No.
That would require Bitcoin to rally up to ~~ 57K. Impossible no, unlikely very.
Somewhere above 2K is where my eyes are set. Again, assuming Bitcoin remains flat around 35K we can project our Ether price points:
.06 x 35K = $2100
.05 x 35K = $1750
However, we have a few bullish checkpoints coming up:
- Layer 2 Phase 1 launch onto mainnet January 15th, which should greatly help reduce gas fees and bring more activity to the network should it go smoothly.
- CME launching Ether Futures on Feb 8th -- more visibility and action for institutional cash
- Blue wave in the Senate with GA outcomes, and with that, any additional exorbitant federal stimulus plans emerging could very well also boost the crypto market as the dollar weakens, inflation ramps up, and investors look for assets to defeat said ramping inflation
Hodl your bag it's only going to get heavier.
- EK69420
Latest update on ETHUSD - looking at price ranges for when ETHBTC will be reaching the top of its channel (between Jan 17 & Feb 8).
In that time period, we should see ETHBTC arrive between 0.05 and 0.06.
Based on the current channel it's in, we can presume that Ethereum will break its previous ATH within a ~week of today (1/6/21).
Beyond that, Bitcoin's performance will indicate how long and how high ETHUSD will reach.
See my golden dorito.
I am looking at $1740 on the low end and (hold onto your undies) $3415 on the high end.
Is $3415 likely? No.
That would require Bitcoin to rally up to ~~ 57K. Impossible no, unlikely very.
Somewhere above 2K is where my eyes are set. Again, assuming Bitcoin remains flat around 35K we can project our Ether price points:
.06 x 35K = $2100
.05 x 35K = $1750
However, we have a few bullish checkpoints coming up:
- Layer 2 Phase 1 launch onto mainnet January 15th, which should greatly help reduce gas fees and bring more activity to the network should it go smoothly.
- CME launching Ether Futures on Feb 8th -- more visibility and action for institutional cash
- Blue wave in the Senate with GA outcomes, and with that, any additional exorbitant federal stimulus plans emerging could very well also boost the crypto market as the dollar weakens, inflation ramps up, and investors look for assets to defeat said ramping inflation
Hodl your bag it's only going to get heavier.
- EK69420
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