The second-biggest cryptocurrency following Bitcoin, Ethereum is on a tear higher this year. So as to celebrate its fifth year of existence, Ethereum doubled in value in the second half of July and the start of August. It rose from the $200 area to over $400, in a move with little pullbacks, filled with continuation patterns only.
Is it the demise of the USD that drives the price higher? Or the investors search for a new alternative for their investments? Or, even more, the excitement about the upcoming Ethereum 2.0 set to go live in 2020?
The Ethereum 2.0 project, to launch in phases (the first phase due out this upcoming fall), aims at challenging the Bitcoins blockchain dominance. Ethereum supporters argue that the Bitcoin blockchain is already too old for the current needs of society.
Ethereum 2.0 allows better scaling of the original projects capabilities by improving some of its features such as abandoning proof-of-work and introducing sharding, a technology improving Ethereums speed considerably.
Regardless of the fundamental reason lying behind Ethereums meteoric rise in 2020, it even outpaced Bitcoin in terms of market performance.
Since it broke higher in the second part of July, Ethereum did not look bank a bit. With the exception of a sharp sell-off triggered by Bitcoin after it broke the $12,000 mark, Ethereum evolved in a strong bullish trend.
Speaking about the rising trend, it is still visible. The series of higher highs and higher lows continues, arguing for more strength moving forward.
Initially, Ethereum formed a pennant. A continuation pattern, it reached the measured move after the pennant broke higher.
Following the measured moves completion, the flash crash generated by Bitcoin sent Ethereum back to support. On its bounce higher, it forms another triangle as a continuation pattern a sign that more strength is about to come.
To trade it, place a pending order to buy at the recent highs, with a stop-loss at the lowest point in the new triangular pattern. Next, measure the distance from the entry to the stop and project it twice to the upside to find out the target for a 1:2 risk-reward ratio.
Dont miss a beat! Follow us onTelegramandTwitter.
More content
Link:
Ethereum Doubled in Price In Less Than a Month More Upside to Come - InvestingCube
- How does Ethereum work - Medium - February 3rd, 2018 [February 3rd, 2018]
- Ethereum - BTCMANAGER - February 19th, 2018 [February 19th, 2018]
- This Giant Infographic Compares Bitcoin, Ethereum, and ... - February 19th, 2018 [February 19th, 2018]
- What is Ethereum? | CryptoCompare.com - February 23rd, 2018 [February 23rd, 2018]
- The Top 10 Best Ethereum Wallets (2018 Edition) - February 23rd, 2018 [February 23rd, 2018]
- Ethereum fixes serious eclipse flaw that could be exploited ... - March 7th, 2018 [March 7th, 2018]
- How does Ethereum work, anyway? - Medium - April 25th, 2018 [April 25th, 2018]
- Free-Ethereum.com - Free Ether! - May 31st, 2018 [May 31st, 2018]
- What is Ethereum? | The Ultimate Beginners' Guide - June 20th, 2018 [June 20th, 2018]
- Ethereum Mining Guide for AMD and NVidia GPUs - Windows ... - June 20th, 2018 [June 20th, 2018]
- Ethereum: Blockchains, Digital Assets, Smart Contracts ... - July 16th, 2018 [July 16th, 2018]
- Ethereum Price - Mobile Friendly Price of Ether - July 16th, 2018 [July 16th, 2018]
- Ethereum Soars with over a 2,800% Rally - Coin News Asia - July 28th, 2018 [July 28th, 2018]
- Ethereum Co-Founder Joseph Lubin Says Speculators Driving ... - August 20th, 2018 [August 20th, 2018]
- Bitcoin and Ethereum: A Look At The Week Ahead - September 2nd, 2018 [September 2nd, 2018]
- EthereumPrice - Official Site - October 3rd, 2018 [October 3rd, 2018]
- Ethereum Classic Price Analysis: ETC/USD Could Revisit $12 - October 6th, 2018 [October 6th, 2018]
- Ethplorer Ethereum tokens explorer and data viewer. Top ... - October 6th, 2018 [October 6th, 2018]
- Buy and Sell Ether With The Peer-to-Peer Ethereum ... - October 6th, 2018 [October 6th, 2018]
- Ethereum Price - CoinDesk - October 18th, 2018 [October 18th, 2018]
- EthereumPrice.org - USD Price, Charts & History - October 18th, 2018 [October 18th, 2018]
- Report: Whales Accumulate Ethereum (ETH) En-Masse Amid Bear ... - December 7th, 2018 [December 7th, 2018]
- GitHub - ethereum/go-ethereum: Official Go implementation of ... - December 7th, 2018 [December 7th, 2018]
- Ethererum Crypto-Economics Index Real-time Price Charts and ... - December 7th, 2018 [December 7th, 2018]
- Ethereum Definition | Investopedia - December 7th, 2018 [December 7th, 2018]
- What is Ethereum Gas: Step-By-Step Guide - Blockgeeks - December 19th, 2018 [December 19th, 2018]
- Ethereum Price Analysis: ETH Could Extend Losses Below $80 ... - December 19th, 2018 [December 19th, 2018]
- Ethereum Price Analysis: ETH Could Turn Bullish Above $90 ... - December 19th, 2018 [December 19th, 2018]
- Bitcoin, Ethereum, Ripple Prices Surge Higher; FOMO Santa Rally? - December 26th, 2018 [December 26th, 2018]
- Ethereum Co-Founder Calls the Cryptobottom of 2018 ... - December 26th, 2018 [December 26th, 2018]
- Part 1: Ethereum vs NEO Which blockchain will provide ... - December 31st, 2018 [December 31st, 2018]
- Ethereum Price Analysis: ETH Corrects Sharply, Can It Hold ... - December 31st, 2018 [December 31st, 2018]
- Ethereum: JPMorgan, Microsoft, Banks Form ... - fortune.com - January 3rd, 2019 [January 3rd, 2019]
- Ethereum News | Ethereum News today | Latest Ethereum News - January 3rd, 2019 [January 3rd, 2019]
- Ethereum (ETH) - Price, Chart, Info | CryptoSlate - January 3rd, 2019 [January 3rd, 2019]
- Ethereum Cash Pro - January 3rd, 2019 [January 3rd, 2019]
- What Is Ethereum? Here's What You Need To Know - January 3rd, 2019 [January 3rd, 2019]
- What is Ethereum? | The Ultimate Beginners Guide - January 27th, 2019 [January 27th, 2019]
- Ethereum Classic - A smarter blockchain that takes digital ... - January 27th, 2019 [January 27th, 2019]
- Ethereum Price Analysis: ETH Relatively Muted, Next Move ... - January 27th, 2019 [January 27th, 2019]
- Buy and Sell Ether With The Peer-to-Peer Ethereum Marketplace ... - January 27th, 2019 [January 27th, 2019]
- What is Ethereum? | The Ultimate Beginners' Guide - CoinCentral - January 30th, 2019 [January 30th, 2019]
- Ethereum Price Analysis: ETH Breaks Down, Turned Sell on ... - January 30th, 2019 [January 30th, 2019]
- Ethereum Price Analysis: ETH Remains Sell Near $128 ... - March 6th, 2019 [March 6th, 2019]
- Ethereum Price Analysis: ETH Remains Sell Near $128, Target ... - March 11th, 2019 [March 11th, 2019]
- Create a cryptocurrency contract in Ethereum - March 11th, 2019 [March 11th, 2019]
- Ethereum Price Analysis: ETH Buyers Wont Give Up Easily ... - March 11th, 2019 [March 11th, 2019]
- Buy and Sell ETH With The Peer-to-Peer Ethereum Marketplace ... - March 18th, 2019 [March 18th, 2019]
- Ethereum Technical Analysis - FXStreet - March 18th, 2019 [March 18th, 2019]
- Ethereum - Investopedia - March 18th, 2019 [March 18th, 2019]
- Ethereum - reddit - March 18th, 2019 [March 18th, 2019]
- Ethereum vs Bitcoin: The Battle for the Crypto Throne - Coindoo - March 18th, 2019 [March 18th, 2019]
- Ethereum Price Analysis: ETH Could Make a Sustained Move ... - March 18th, 2019 [March 18th, 2019]
- Ethereum Project - March 18th, 2019 [March 18th, 2019]
- Ethereum - Official Site - April 20th, 2019 [April 20th, 2019]
- Ethereum (ETH) Price Starts Much Awaited Rebound To $170 - May 9th, 2019 [May 9th, 2019]
- Ethereum Price Analysis: ETH Corrects But More Upsides Likely ... - May 9th, 2019 [May 9th, 2019]
- Ethereum Price Analysis: ETH Primed For Additional Losses ... - May 9th, 2019 [May 9th, 2019]
- Ethereum Won't Fail: Joseph Lubin - ccn.com - May 9th, 2019 [May 9th, 2019]
- Ethereum (ETH) Price Starts Fresh Increase: Bitcoin Leading ... - May 9th, 2019 [May 9th, 2019]
- Bitcoin Booming As Ethereum, Ripple's XRP, EOS And Litecoin ... - May 9th, 2019 [May 9th, 2019]
- Ethereum Bounty Program - May 30th, 2019 [May 30th, 2019]
- Dark Horses of dApps: 6 Blockchains With Ethereum In Their Sights - Crypto Briefing - October 21st, 2019 [October 21st, 2019]
- Latin Americans get two new ways to trade Bitcoin, Ethereum, and more - Decrypt - October 21st, 2019 [October 21st, 2019]
- Ethereums Bearish Wave Count Outlined by Cryptocurrency Analyst - BeInCrypto - October 21st, 2019 [October 21st, 2019]
- XRPs Third Quarter Inflation Rate Was Lower Than Ethereum (ETH) and Litecoin (LTC) - SludgeFeed - October 21st, 2019 [October 21st, 2019]
- Ethereum (ETH) Dives To $170, Is $160 Next Bear Target? - newsBTC - October 21st, 2019 [October 21st, 2019]
- Thomson Reuters: Bringing Smart Contracts to the Mainstream With Ethereum & Chainlink - Blockonomi - October 21st, 2019 [October 21st, 2019]
- Crypto Analyst: Ethereum Has Bottomed, Expected To See Extended Rally - newsBTC - October 21st, 2019 [October 21st, 2019]
- WATCH: MyCrypto CEO Taylor Monahan on Crypto Adoption and Ethereum - Coindesk - October 21st, 2019 [October 21st, 2019]
- Cryptocurrency market update: Kicks of a dying horse as Bitcoin, Ethereum and Ripple remain suppressed - FXStreet - October 24th, 2019 [October 24th, 2019]
- Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin - American Wrap - 22 October - FXStreet - October 24th, 2019 [October 24th, 2019]
- Ethereums gas prices show an unusual surge when the Asian market sleeps - AMBCrypto - October 24th, 2019 [October 24th, 2019]
- Whale Consolidates $88M Worth of Ethereum in Two Transactions - BeInCrypto - October 24th, 2019 [October 24th, 2019]
- Ethereum Falls 10% In Selloff - Yahoo Finance - October 24th, 2019 [October 24th, 2019]
- TRON Joins Bitcoin And Ethereum On Opera Browser - Crypto Briefing - October 24th, 2019 [October 24th, 2019]
- Ethereum (ETH) Rebound Faces Major Hurdle Near $180 - newsBTC - October 24th, 2019 [October 24th, 2019]
- Ethereum Breakout Above $360 Means Skys the Limit, Believes Cryptocurrency Analyst - BeInCrypto - October 24th, 2019 [October 24th, 2019]
- Ethereum Futures: The Next Big Derivative to Hit the Market? - Cointelegraph - October 24th, 2019 [October 24th, 2019]
- Ethereum and Stellars Lumen Daily Tech Analysis 23/10/19 - Yahoo Finance - October 24th, 2019 [October 24th, 2019]