Although Ethereum has embarked on an impressive 170% rally since March’s lows, the cryptocurrency remains more than 80% below its all-time high of $1,430. With such a strong retracement from its all-time highs, there have been some skeptics questioning if ETH will ever hit a new all-time high. Fundamentals signs, though, are showing that ETH is poised to embark on its next long-term bull run. Consensus Labs’ Jimmy Ragosa recently identified three fundamental “waves” that may mark an end to ETH bears: I can think of at least 5 additional waves. Can you guess what they are? pic.twitter.com/QiDaR28SZm — Jimmy Ragosa (@JimmyRagosa) June 3, 2020 The technicals are also bullish. Dan Tapiero — the CEO of DTAP Capital, a prominent gold bull, and the head of an upcoming cryptocurrency fund — recently noted that ETH is poised to head higher: “Chart of ETH on verge of explosive upmove. Are there any upcoming potential catalysts? Move up through 300 projects to 500 minimum in coming 6-12 months. Any strong views out there?” Chart of Ethereum on verge of explosive upmove. Are there any upcoming potential catalysts? Move up through 300 projects to 500 minimum in coming 6-12 months. Any strong views out there? pic.twitter.com/xLV9wt5CVD — Dan Tapiero (@DTAPCAP) June 4, 2020 Ethereum surging to $500 would mark a 66 percent rally from $300 and a doubling of current prices. Raoul Pal, the chief executive of Real Vision and a former executive of Goldman Sachs, explained that ETH is poised to break out against Bitcoin: ETH/BTC chart from prominent Wall Street investor and analyst Raoul Pal (@RaoulGMI on Twitter).Related Reading: Textbook Wyckoff Analysis Shows Bitcoin Is About to See a Brutal Drop to $7,000s
There Are Three Key Ethereum Bull Trends
Technicals Also Bullish
Related Reading: Crypto Tidbits: $200M of Bitcoin Liquidated, Ethereum DeFi Adoption Limited, Bloomberg Is Bullish
Featured Image from ShutterstockPrice tags: ethusd, ethbtcThere Are Three Fundamental "Waves" That Could End Ethereum Bears in the Long Run
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