Don't sleep on an Ethereum breakout
Ethereum is on the cusp of 5K and a potentially massive breakout of its own.
While all eyes may currently be on Bitcoin as it marches toward new all-time highs, don’t sleep on Ethereum (ETH).
If momentum is anything to go by, Ethereum will reach 5K sooner than expected.
Could an Ethereum breakout actually be the catalyst for a market-wide levelling up?
What next for the Ethereum price?
The last time we talked about it on the blog, Ethereum had just had its highest monthly close ever.
Compare the monthly chart in that post to the following Ethereum daily chart and you can see that price has continued exactly where it left off.
September, October, it doesn’t matter.
The Ethereum bulls remain large and in charge as they relentlessly march on toward 5K.
I really do love that chart with just simple support/resistance levels drawn on at each 000 psychological level.
So simple.
So obvious.
Yet clearly price respects them at each direction, meaning that the 5K level is most likely going to be no different.
Ethereum to 5K
I previously had said that the previous monthly close was just the beginning and with price ripping higher, nothing has changed.
Ethereum is…
Well, Ethereum is Etheerum.
The premier smart contract network and no centralised tryhard network with 1/100th of the development and network activity will change that.
For me, ETH remains a buy into 5K, playing for an explosion higher as it enters true price discovery alongside Bitcoin.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment and share your thoughts on Ethereum’s march to 5K within the comments section below? All comments that add something to the discussion will be upvoted.
This Ethereum blog is exclusive to leofinance.io.
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From an investor point of view I understand wanting some ETH but from a user point of view I would avoid ETH. This causes me to just stay away from ETH.
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Who still uses ETH these days?
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The guys with a lot of money and maybe a few retail people who still think it's worth it. On @leomarkettalk a few days ago, someone talked about over $300 gas fees.
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Ha Ha
No one wants to use it, but many have to on the path to bsc.
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It's a whale chain.
When it costs $90 to send $100, it's just not usable for us regular folk haha.
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I am also bullish on ETH! Thank you for the analysis.
Thanks Veso.
I'm looking forward to your next detailed Ethereum technical analysis blog.
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I bet ETH will be over $5,000 before the month of December. When we will get there I should recall the times I was selling ETH for $300 and under...
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I agree there’s a good chance of Ether reaching 5000 USD.
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Haha we all have stories like that, but we can't beat ourselves up.
The good thing about crypto markets is there's always another trade like that just around the corner!
There is another $300-$5000 asset just waiting for you to discover ;)
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I just "rediscovered" TLM. Probably the trade I was missing for so long.
I agree that Ethereum isn’t getting the attention of Bitcoin, but it’s performance this year has been very good. Some might say spectacular.
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Spectacular Ethereum!
I like it ;)
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