Bitcoin in 2015 is very similar to Ethereum in 2020. To me, the market cycle stage is extremely similar. Fundamentals also look solid with ETH 2.0, token burn, and rapidly increasing lock-up in DEFI.
Further confirmation will be provided by the golden cross (50-MA and 200-MA) which is expected in the coming weeks. This will trigger even more capital inflow as many traders are still waiting on the sideline for the golden cross.
The target $758 based on fib extension levels also line up with the expected release date of ETH 2.0 which I anticipate would trigger a "sell the news" event correction to possibly the 0.382, 0.5 or 0.618 (same as BTC 2015). The level of correction will depend on how good ETH 2.0 actually is. If successful, expecting continued up-trend from the correction to $1000 and beyond in Q3 and Q4 of this year.
Further confirmation will be provided by the golden cross (50-MA and 200-MA) which is expected in the coming weeks. This will trigger even more capital inflow as many traders are still waiting on the sideline for the golden cross.
The target $758 based on fib extension levels also line up with the expected release date of ETH 2.0 which I anticipate would trigger a "sell the news" event correction to possibly the 0.382, 0.5 or 0.618 (same as BTC 2015). The level of correction will depend on how good ETH 2.0 actually is. If successful, expecting continued up-trend from the correction to $1000 and beyond in Q3 and Q4 of this year.
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