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
“It even looks like Ether will outperform Bitcoin at some point (no position yet). Please remember: No tribal attacks about bitcoin vs ethereum. They are two different things and two different ecosystems.”
There Are Three Fundamental “Waves” That Could End Ethereum Bears in the Long Run was last modified: June 6th, 2020 by Nick Chong