One closet -followed crypto analyst reveals two bullish scenarios that would lead the best smart contract platform Ethereum (ETH) to a price tag of $ 6,000.
In a new strategy session on the Podcast Technical Roundup, says pseudonymous crypto trader Donalt that the best scenarios for ETH currently act sideways or ripping to new highlights before withdrawing.
“I would rather let it go aside here, or just like RIP as go all the way up and then withdraw from much higher.
In short, you go to $ 6,000 and then you retreat from $ 6,000 to $ 4,000. That would be much nicer and much more constructive to retreat or just go sideways here in this reach … If it is bullish, I think it should do one or the other, in principle sideways here without redeeming $ 2,900 or $ 2,800. ”
But Donalt warns that Ethereum has risen so quickly from a technical point of view without an important retracement, so that the door is opened for a deep corrective movement. If that happens, the trader says that ETH’s rebellion will probably be reversed.
“When I am looking for this kind of pullback levels, I sometimes go to the lower time frames. So for example the daily period of time. You open that and you look ‘hey, okay, we haven’t had a pullback at all. We had some side road. [movement]. We had a little bit of a false distance breakdown.
But since then, actually since $ 2,000, we have not had a pullback. We almost went directly to $ 4,000, right? So we have almost doubled. So I think there is a world in which if something macro-qua goes wrong, we will retire to $ 2,900, maybe $ 2,800.
But I would rather not do that. But I would rather not do that. In general, I think that that would often be a sign of weakness and that this will not be sustained. “
Ethereum acts for $ 3,778 at the time of writing, a win of 5.4% during the last day.
https://www.youtube.com/watch?v=F6AZI0J8A70
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