Ethereum (ETH) Bullish Breakout of Bull Flag/Pennant Buy Signal
After consolidating, Ether (ETH) broke above resistance to begin an advance.
Bull flag breakout of a bullish continuation pattern with strong volume. RSI is indicating scope for the rally. Higher lows create rising trend lines and upward sloping 50-day moving average favor further upside in ETH prices.
On a practical utility note, our test research measured Ethereum transferring between accounts with 40 confirmations in less than 2 minutes.
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
All the best luck trading
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Short Term Target, using the measure rule of the Bull Flag Tip Trading Method where A is equal to B gives us a short term price target of $1,539 USD. Other versions of this method begin the B measurement at the breakout point, which is our C and D that would put the target at $1,700 USD. If we start the first measurement where the run really began in C that would give us a target of $1,800 USD. At least that's the numbers that method gives.
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Ethereum is Hitting New All Time Highs with Strong Volume... Buy Signal
First target passing $1,500, then $1,800.
Just a side note observation I had: At $2,500 Ethereum would be the same market cap as Bitcoin is in this moment. That to me would be a closer valuation to the utility it offers.
Of course, "this is not financial advice". I'm just sharing my research, thoughts and ideas.
All the best luck trading
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I'm seeing another Bull Flag/Pennant has formed over the weekend, which it is starting to breakout of. It just needs some volume to move in here; which I am expecting later today to pick up for the week, as 2017 bonuses start to go out on Wall Street and more and more eyes are on the many positive aspects of Ethereum and it's many projects about to roll out this year.
The TA, as I see it, seems to all be pointing in the direction of $1,800 by the end of the month and then $2,500 by sometime in March, which would be a 90% price increase in a few months.
@titanlyy, Head and Shoulders only normally holds up significantly in especially crypto is with strong volumes and this recent top of right shoulder fell off to being some of the weakest volumes of the week. It would have to get slammed very soon to even form it. At least that's how I read it. Odds are the momentum will carry a while through I'm sure many more daily crypto-wide downpours that some whales must be causing. Who knows though in this market... But I'm going with the odds.
Inspirar
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@titanlyy, Not to mention, my recent seeing ETH transfer with 40 confirmations in less than 2 minutes. Compared to Bitcoin's recent hour and previously seeing it take many hours, Ether won the practical utility by a landslide. So sooner or later the market caps will most likely get closer. Just my 2 cents. ;)