Ethereum Price Target
Hi everyone! This is my first post~ So any feedback is welcome. I hope I can add some value to the community. I have some experience trading the stock market and have just entered into the world of cryptos and Steemit. Here is my current analysis of Ethereum.
Ethereum broke out of a massive bull pennant pattern this week and is currently hitting resistance at $500, but still looking extremely strong. Expect some choppy consolidation between the $400-$500 range until it gains strength to break the $500 barrier. I entered at ~$380. Current price target in the $600+ range depending how it clears $500 and approaches the $600 mark. It very quickly went from the $380 to the $480 mark and shows no signs of weakness. It could come down to the $370 mark and still be set up to retest and break $500. Any dip to the $420 -$400 area is a buy in my opinion. If it breaks $370-$360 start looking to get out or reduce your position.
I use tradingview to watch cryptocurrency charts, it is free and easy to use and you can draw on and manipulate the charts very easily. 
Thank you!
No problem! Thanks for looking~
Hi, and welcome to Steemit! I’m brand new here myself, actually have been reading and lurking for a long time and finally signed up. Thanks for the TA, I’m pretty bullish on ETH myself. It was actually the first crypto I ever bought, still maintain a strong position.
Have an upvote,
Cheers!
Thanks. What do you think of the project? Is there a good ecosystem of programs and apps built on it yet?
Well, yes and no. Within the crypto world, Ethereum has become a backbone of the ecosystem. Just look at how many tokens are based on Ethereum/ERC20.
One of my favorite ICO’s is Crypto20, a tokenized index fund that buys the top 20 coins by market cap. One C20 token represent one share of ownership in the fund and has an ‘instant liquidation’ feature that is based on a smart contract. None of that would be possible without Ethereum.
What Ethereum lacks is any programs or apps that are likely to see mainstream adoption. I’ve heard it said that it will only take one ‘killer app’ to make Ethereum go through the roof, or any other platform for that matter (Lisk, etc).
When we see something built on the Blockchain that becomes as widespread as Instagram or Twitter, that’s when we will explosive growth.
I’m a big fan/supporter of Lisk for exactly this reason. Lisk is built on JavaScript, while Ethereum uses Solidity. Millions of programmers across the world already know and use JavaScript. I think there’s a good chance that the first ‘killer app’ that sees mainstream adoption will come from Lisk rather than Ethereum.
A bit long winded, but that’s my two cents.
Cheers!
Hello!