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.
Obtain Instant access to the same “New York Close” Forex charts used by Justin Bennett!
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.
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