Welcome back to the channel. If you guys are new here, it is great to have you and today we need to talk about an Etherium because I really do think that Ethereum is getting ready to do some big things here, and I want to throw out some price predictions for what I think Ethereum can hit in the not so distant future. So if that sounds interesting at all, make sure you guys stick around for the entire length of the content as there will be important information discussed the entire way through.
But that being said, let’s go ahead and dive into this one. Now, first of all, Ethereum has a ton of hype and a ton of news coming out, especially Ethereum 2. Which we’ll probably just save for whole separate content. But with that being one of the catalysts that I think will cause Ethereum to continue to move upwards, I want to look at some technical analysis along with these fundamentals that we have backing it now. Obviously, Ethereum produces most of, I would say, the cryptocurrency world’s uh financial aspects right.
A lot of these decentralized applications, whether that be games or companies or actually used products that companies build their backbones off of or even their services are built off of, for the most part, the Ethereum blockchain. Now there are other ones you have Cardano, eos, um and people build.
You know, applications on all sorts of blockchains, but Ethereum supporting them supporting most of them. By far and with that, we see that reflected in the popularity in the price of Ethereum, but looking at the actual technical analysis of this, it’s pretty obvious that Ethereum had a fairly nice bottom of this area right below 1800 right above 1700, and it touched this Actually three separate times now.
This is one of the things that I talked about in my live stream the other day, but when we see one-two, three separate macro swing swings to the downside and all these hold it almost looked like it was becoming a descending triangle, because we had this Falling level of resistance and this flat level of support, but with this being broken out of in both of the ema starting to look upwards Ethereum, is starting to look a whole lot better.
Now. I think that one of the best arguments for this is that Ethereum broke out of this and actually has a pretty nice higher swing high from its previous high, which was just around, I would say, 2300 and Ethereum, now being at around 26 2700.
So with this happening, this is clearly saying that you know without you know, beyond the shadow of a doubt, Ethereum is hitting this higher high and ultimately, this whole descending triangle argument is now out the window because it hit the higher swing high. You know this is now invalidated, so this is definitely a good thing for Ethereum to see, but we’ve also seen a pattern like this before, and I want to take a look at that as well similar to what we looked at in the previous content about how All of all coins really look pretty good right now.
So, of course, remember this, we have this rounding bottom. We have the same level of support. What appeared to be a descending triangle that actually got broken out of and then the higher high was really the catalyst and the starting point for when the next bull run happened on Ethereum.
So if we line back the time clock just a little bit – and we look at what happened over here back in 2018 – which by the way was a great run right, you know beautiful run. We had it come up, but then, after the pretty nasty downfall, Ethereum wasn’t looking so hot.
We were having consistently lower swing highs and with that, I want to bring out the drawing tool again, we had almost another descending triangle. Again we have these consistent. Lower swing highs, lower swing highs, lower swing highs, and we have this relatively same level of support for the most part, we’re just hovering just around that 100 range now.
This was all broken when, when uh excuse me when Ethereum broke past uh this pattern and broke above this previous all-time high. Excuse me not all time I, this uh attempted the downside of 285 dollars so when this happened and it invalidated this whole idea by reaching just above here, which is exactly what we’re seeing right now, in my opinion, so with this actually happening, this was kind of The catalyst to say hey, this is no longer valid.
This is no longer any kind of valid argument because we’ve broken out of this and the idea of a descending triangle, with all these lower swing highs, is now out the window because we now have a higher swing high. So I think that this is very similar to what we’re looking at over here. This could be a flat or what some people like to call a rounding bottom, and that could very well be the case for what we’re seeing over here on Ethereum as well.
And if that is the case, and that this was just kind of a shorter-term scale of what we saw back in 2017, 18 and 19, then this could really be the precedent for Ethereum hitting a new all-time high. Now I want to talk about some prices that I want to throw around here because I think that one-day Ethereum will hit ten thousand dollars now again um, that might sound crazy to some people, but when you think about how much it’s actually being used And how much the uh, I would say, even just the NFT and blockchain-based uh side of the gaming and entertainment industry, has really just started taking off.
I think that five-ten years from now, it will be such a regular part of what we do in society, especially in the entertainment industry that it won’t be a surprise to see a lot of things that are related and revolved around that they use. As a form of currency to trade, these NFT excuse me to trade, these NFTs or in-game items, or to even create a currency for these virtual environments. So I don’t think it’ll be anything crazy to say that they can’t hit that and that’s again my thoughts on that area.
So what would that actually do if we were to look at Ethereum hitting a 10 000 evaluation from where we’re currently at right now, that’d? Be you know, let’s just say roughly about 290 about 300 percent to the upside. Now, what I’m really hoping that Ethereum will do, and what I think is quite likely actually is that Ethereum will probably have some sort of a pullback to one of these emails.
We’Re seeing a little bit of maybe bearish presence at the price point of where we’re at right now, just below 2700, which would make sense because we’re just below a pretty major resistance level. One of the last major resistance levels for Ethereum.
And what I’d like to see is for us to pull back to one of these emails, whether that’s the 50 or the 200 on the one-day time scale. So I think both are pretty likely and maybe not both are pretty likely, but it’s definitely likely that we see some sort of a pullback in the future to re-test what was previously resistance now turn support and then to see.
Ultimately, uh Ethereum makes a higher swing low somewhere around this area before it continues to the upside. So that is my prediction for Ethereum again, I think Ethereum looks great, there’s a lot of fundamentals and technicals into this that look very good um, and I think that we could see some pretty nice movement coming into the not so distant future. Here again, there’s going to be ups and downs.