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- Legendary fund manager Paul Tudor believes cryptocurrencies will be split into different categories like metals.
- Ethereum’s price remains limited within a strengthening pattern pending a clear breakout.
Paul Tudor Jones is an American billionaire hedge fund manager who believes that Bitcoin is still in its infancy and that people don’t know how to value it. Tudor says that in about 20 years our children will be using some type of digital currency.
Paul Tudor also believes that in the future the crypto space will be divided into valuable currencies such as Bitcoin, transactional cryptocurrencies along with sovereigns, and ultimately industrial digital assets, which could be Ethereum.
Ethereum’s price is limited within an ascending triangle
At the time of writing, the Ethereum bulls created an ascending triangle on the 4-hour chart and managed to defend the lower trendline again on Dec 4th. The upper limit is set at $ 619, which is the most critical resistance level.
ETH / USD 4-hour chart
A clear breakout above $ 619 can quickly push Ethereum’s price to $ 755. The In / Out of the Money Around Price (IOMAP) chart reveals almost no resistance to the upside beyond the range of $ 592 to $ 609.
ETH IOMAP chart
It appears that a breakout above $ 609 would easily drive the Ethereum price towards the upper boundary of the pattern at $ 619 and above it as IOMAP shows no opposition until $ 680. On the other hand, there is a solid support area between $ 555 and $ 573.
A break below the triangle’s lower trend line at $ 580 would push the price of Ethereum to $ 555. Failure to maintain this level can potentially lead ETH towards a price target below $ 468.
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