ETHUSD seems to be forming an ascending triangle, which is a bullish chart formation. This consolidation could probably end before or after the start of 2018.
For the short term, ETH could go down to 250 before moving up to test its all time high. Then, once it does the retest, it could hover around that area forming a pennant before breaking out.
Insane Targets:
$780 by February 2018 (+100%)
$1500 by mid 2018 (+300%)
Reasons for this:
- mining difficulty is higher which means slower token generation and will cause the slowdown of ETH's supply growth
- growing demand + more strategic partnerships + successful fork + slowing supply generation = moon
- if all these 4 formula would pile up by the start of 2018, then we can see ETH go to the moon.
For the short term, ETH could go down to 250 before moving up to test its all time high. Then, once it does the retest, it could hover around that area forming a pennant before breaking out.
Insane Targets:
$780 by February 2018 (+100%)
$1500 by mid 2018 (+300%)
Reasons for this:
- mining difficulty is higher which means slower token generation and will cause the slowdown of ETH's supply growth
- growing demand + more strategic partnerships + successful fork + slowing supply generation = moon
- if all these 4 formula would pile up by the start of 2018, then we can see ETH go to the moon.
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targets:
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Correction: I may have miscalculated the placement for the Fibonacci retracement
We could bounce off above 285. There's a demand zone sitting there. Plus it has confluence with the 0.618 fib.
We could bounce off above 285. There's a demand zone sitting there. Plus it has confluence with the 0.618 fib.