Why I set $500 as my target for Ethereum (ETH) – Price analysis
By
Azeez Mustapha
PUBLISHED:
20 Jul 2020 @ 11:25
|
Comments (0)
|
More info about Azeez Mustapha
Ethereum (COIN:ETHUSD) reached a yearly low in March 2020 when it fell below $100. Following that, price began to move upwards gradually, before it started to consolidate from June 2020.
Price is making effort not to go below the EMA 21; but the Williams’ % Range period 20 is
moving downwards, and it may even reach the oversold region.
However, as long as price is not significantly below the EMA 21, any upward slope in the Williams” % Range would become a “buy” signal. The market is expected to go further upwards, no matter the pullbacks along the way.
Just recently, Ethereum was around $500 (it was even far higher than that before), but it later nosedived.
Now, $500 is my initial target for ETH, which is expected to be reached in less than 2 years to this time. This expectation may be realized sooner than that; and until then, I will hold my position.
Trading realities: Trading realities
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Register for real-time alerts, custom portfolio, and market movers
