Ethereum is on the cusp of 5K and a potentially massive breakout of its own.
While all eyes may currently be on Bitcoin as it marches toward new all-time highs, don’t sleep on Ethereum (ETH).
If momentum is anything to go by, Ethereum will reach 5K sooner than expected.
Could an Ethereum breakout actually be the catalyst for a market-wide levelling up?
What next for the Ethereum price?
The last time we talked about it on the blog, Ethereum had just had its highest monthly close ever.
Compare the monthly chart in that post to the following Ethereum daily chart and you can see that price has continued exactly where it left off.
September, October, it doesn’t matter.
The Ethereum bulls remain large and in charge as they relentlessly march on toward 5K.
I really do love that chart with just simple support/resistance levels drawn on at each 000 psychological level.
So simple.
So obvious.
Yet clearly price respects them at each direction, meaning that the 5K level is most likely going to be no different.
Ethereum to 5K
I previously had said that the previous monthly close was just the beginning and with price ripping higher, nothing has changed.
Ethereum is…
Well, Ethereum is Etheerum.
The premier smart contract network and no centralised tryhard network with 1/100th of the development and network activity will change that.
For me, ETH remains a buy into 5K, playing for an explosion higher as it enters true price discovery alongside Bitcoin.
Best of probabilities to you.
Direct from the desk of Dane Williams.
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