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A friend just asked me to analyze $ETH , because he just allin his assets here.đ„¶
Normally, I always encourage you to divide your capital into 3 baskets including BTC, ETH and Alt. But in case you have decided to go all-in on a single coin like this, I hope you can stick to your choice.
đHere is my personal assessment and prediction of ETH, please read carefully!
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SHORT TERM: (1D frame or less)
In the past half month, ETH has been continuously seeing FUD about funds and big players putting coins on the exchange to sell off.
đ€In fact, ETH is listed on the exchange, on-chain checking units also confirm this. But please note, we only know that they push the coin up, but CANNOT detect when they sell. đBecause once the coin is listed on the CEX exchange, the transactions will be completely "blind", and on-chain tricks will be useless.
In my opinion, in the past 2 weeks, the sharks have NOT sold ETH, as evidenced by the fact that ETH price is still moving in a rising wedge (as shown below).
However, the price is trending down to break the lower edge of the wedge. At this time, the whales can completely sell off the ETH they have pushed up over the past 2 weeks, causing the price to dump and "rationalize" the pattern.
đIn short, I still maintain the view that ETH price will still move sideways in the range of 2k - 3k$ for a few months before growing. It is also very normal for the price to retest the $ 2,000 area.
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LONG TERM: (1W â 1M frame)
Similar to SOL, I will predict ETH price at the cycle peak based on ETH/BTC chart.
đRemember, altcoin season only really happens when the ETH/BTC exchange rate grows, meaning ETH increases beyond Bitcoin, pulling capital flow to the entire altcoin market.
đ€Look back at the ETH/BTC movement from August 2022 (picture below), you will see that this exchange rate is actually just dumping and dumping. That means even though the ETH price according to USDT has grown, Ethereum has NOT REALLY entered the cyclical uptrend.
Currently, the ETH/BTC exchange rate has fallen to the hard support zone at 0.04. Therefore, I think that in the near future, even if Bitcoin decreases, ETH will only decrease by the same amount, or even less than BTC (This is also the reason why I set the $2,000 mark so that you can catch the bottom of ETH). đȘđȘ
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đ„Peak price projection $ETH :
Those who are still in the market expect Bitcoin's uptrend peak to be at $100,000 or more. Do you agree with this???
đAt that time, if the ETH/BTC exchange rate recovers to the peak of 0.086 in 2021, the ETH price will be calculated as:
0.086 x 100,000 = 8,600 USD. (ie about 4 times higher than the 2,000 USD buying zone)
At that time, the project's capitalization was just over $1,000 billion.
Maybe some of you will comment that I am delusional, but my level of $8,600 is lower than the level of 10k - 20k that many analysis units shared in Western newspapers. đ đ
The approval of ETH ETF will attract a lot of cash flow, just not right now.
đ”SUMMARY:
My view is $ETH will go in the 2k â 3k range for a few months.
And the top of this cycle will be around $8,500.
đCurrently, Ethereum has not even entered its own bullish wave. So you can confidently divide your capital into parts.
Anyone who has a different view, even if it's different, please feel free to share it with everyone. đđ
