ETH has made the $2k level support as indicated by this lovely chart. Now we are clear to go much higher.
Next significant targets? $5k and $10k. Both are possible and likely before 2021 ends.
As you can see on this chart, if we maintain the current momentum we should hit $10k by November 2021. This required ETH to increase in price by only 400%.
I say only, because in the past 12 months, ETH has increased by 2,400% (since March 2020). What is 400% in a bullish market? Not much.
However, there is more to ETH that makes me very bullish, particularly the fact that the Ethereum Improvement Protocol or EIP-1559 is due to launch this summer around July 2021.
Why is EIP-1559 important? Because it makes ETH cheaper to transact in, scarce and deflationary at the same time.
After EIP-1559 is deployed transaction fees will be much cheaper than now and all base fees paid on ETH network will be burned! More transactions due to lower fees = more ETH burned = scarcity = increase in ETH price.
Simple no? Yep.
Questions is... do you have exposure to ETH? Don't miss it.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
Next significant targets? $5k and $10k. Both are possible and likely before 2021 ends.
As you can see on this chart, if we maintain the current momentum we should hit $10k by November 2021. This required ETH to increase in price by only 400%.
I say only, because in the past 12 months, ETH has increased by 2,400% (since March 2020). What is 400% in a bullish market? Not much.
However, there is more to ETH that makes me very bullish, particularly the fact that the Ethereum Improvement Protocol or EIP-1559 is due to launch this summer around July 2021.
Why is EIP-1559 important? Because it makes ETH cheaper to transact in, scarce and deflationary at the same time.
After EIP-1559 is deployed transaction fees will be much cheaper than now and all base fees paid on ETH network will be burned! More transactions due to lower fees = more ETH burned = scarcity = increase in ETH price.
Simple no? Yep.
Questions is... do you have exposure to ETH? Don't miss it.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
