ETHUSD: The next stop for Ethereum is $ 800

On June 4th, I wrote about the huge upside potential that Ethereum (ETH) has.

At the time, the cryptocurrency was trading at $ 240.

Given today’s price of $ 462, those who invested enjoy a 92% return.

I have to note that I was buying ETHUSD between May and July when it was just over $ 200 as I announced in the DPA members area.

I have not liquidated any of my positions and I will not do so for a while.

As for the price action, the ETHUSD has recently exited a symmetrical triangle on the intraday charts.

I mentioned this facility yesterday on Twitter.

However, the importance of a break above the $ 450 area extends well beyond the intraday charts.

Notice the trend line in the chart below which extends from the all-time high of Ether.

Also note how this trend line is similar to the one that broke in late May.

That May breakout is what I have mentioned several times on this site.

If ETHUSD can close the week above $ 450, it could send the cryptocurrency on another massive rally, this time to $ 800.

Keep in mind that cryptocurrencies have entered a new cyclical bull market, as I said on June 22nd.

With this in mind, ETHUSD will likely go well over $ 800 over the next 16 months.