In today’s Ethereum price predictions article we featured a chart that is truly amazing, it really deserves to become the “chart of the day”.
Interestingly, some people still believe that it does not make sense to analyze cryptocurrency charts. However, we can make a case that cryptocurrencies like Ethereum in particular follow chart patterns and trends. Case in point: look at the rising trendline on Ethereum’s chart, in particular the support line which connects the following price points exactly on one straight line: 155 USD, 224 USD, 284 USD.
It really is amazing how strong chart analysis works for Ethereum. With those trend lines there are chart patterns that arise. And that is exactly what we see on today’s Ethereum chart of the day.
5 amazing observations on Ethereum’s price chart
After analyzing the price of Ethereum on its one year chart we concluded there are 5 facts that stand out, and they are amazing:
- Since Ethereum accelerated in April of this year, it started moving in a trend channel. That is the channel which is indicated with the 2 blue lines.
- This channel got confirmed this week when Ethereum ‘s price broke above 400 USD.
- Going forward, and as long as this channel remains in tact, Ethereum will move upwards and reach the following price levels: 600 USD around year end, 1250 USD by the end of 2018, 2710 USD by the end of 2019, 4000 USD in 2020.
- Ethereum typically accelerates a couple of times per year when it moves up extremely fast. So less than 10% of the weeks in a year are really (really) exciting. Investors’ patience is tested during all other weeks. That is why buy-and-hold is the best strategy for crypto-investors.
- Investors cannot exclude an acceleration nor a deceleration of this channel, so readers better continue to follow our work as we continue to signal that this channel is in place or whether the price of Ether moves outside of this channel.
Ethereum is set up for a really cool future.