“So our best guess forecast right now, though with a lower confidence level than the one we made 3 months ago, is that both price targets will be achieved: first 220 USD later this year, followed by 510 USD somewhere in the next 12 to 18 months.”
After this statement, many were shocked by the swift dramatic change in Ethereum’s price.
Following the Ethereum price analysis, the lower confidence level was related to the condition that was defined as a breakdown below 290 USD by Investing Haven. Nonetheless, even though people believe that Ethereum will double in the next 6 to 9 months, they know for sure that not many crypto investors will get the full benefits of this opportunity. The new rise in crypto was too aggressive and full-on, so a stabilisation period is likely what will follow next.
When it comes to the chart this is what we study into Ethereum’s daily chart: They now notice that their downside target of 220 USD got hit, which highly likely conveys some consolidation before they construct the next upside move to 510 USD late this year or in 2020.
For those who don’t know, consolidations are very irritating and annoying for both traders and investors and in this sort of circumstance, the majority of investors show barely any patience towards the situation. Making the traders and investors then sell with a substantial loss resulting in themselves chasing prices a great deal higher after a certain time period.
Take into account that detailed annotated charts make a significant difference between a well informed and triumphant crypto investor, and the vast majority of investors with average returns. According to IH, following Ethereum new is pointless and it is all about the ‘art of the chart’.
The price of Ethereum at the time of writing is £222 after the digital asset experienced a 0.49 percent decrease over the past 24 hours. Much like the rest of the market, Ethereum is seeing red following a rough weekend for the cryptocurrencies value.