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Ethereum (ETH) is on track to proceed with its ongoing rally despite concerns about plasma. Ethereum (ETH) investors turned to Twitter to express their dismay at the way Ethereum (ETH) "overpromises and under deliver" but did not stop them from buying dives. In fact, many of these investors seem to have made peace with Snarks and believe that there is still enough juice for a demonstration from this point forward. There is no doubt that Ethereum (ETH) often exalts and underestimates, while Ethereum Classic (ETC) is often subject to promises and over deliver. However, in a market where memory and feelings last only a few hours, it does not seem to matter much. It will have importance with the maturation of the market, but we are still in the very first days.
The weekly chart above for ETH / USD shows that Ethereum (ETH) followed and repeated a particular pattern. This model implies the previous support that turns into the next resistance. If we look at the first trend line above the char that extends from before 2016 to April 2017, we can see that it was broken around October 2016. Later, that trend line serves as a later resistance and is tested in April 2017 The price is initially rejected by this resistance, but immediately passes through this resistance and rises to a new historical maximum. This is not the only time it happens. If we look at the price between January 2017 and November 2018, we can see that the price has fallen below the trend line around August 2018.
If the chronology has to repeat itself, we should see the price fall back into the broken support, now turned into resistance. This should happen around the beginning of 2019. Initially, the price should be rejected by this resistance, but it will eventually have to break above it to reach a new historical high. If ETH / USD follows this trajectory, it is expected to reach its all-time high around mid-2019. If you have followed this market for a long time, you would have noticed that many things are already changing in this market. A few years ago, we were in the experimental phase. I remember seeing Ethereum (ETH) around $ 10 and I was always wondering if this technology could eventually succeed. I ended up buying my first ETH around $ 15.
Then, the future of Ethereum (ETH) was not very bright. It was just a community of some technology fanatics trying to experiment with new technology. The number of people who actually understood the concept and what the team was trying to build was very small. Yet, the vast majority of people do not really understand the technology behind Ethereum (ETH). They are more interested in this as an investment rather than a technology. However, Ethereum (ETH) today is much bigger and better than a few years ago. The adoption he saw is just a drop in a bucket compared to where he can go from here.
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