Intimately, Crypto analysts reveal two bullish scenarios that will lead the top smart contract platform Ethereum (ETH) to a price tag of $6,000.
In a new strategy session for the TechnicalRoundup Podcast, the pseudonym Crypto Trader Donalt says that ETH's best case scenarios are currently trading sideways and ripping to new highs before pulling back.
“I would rather basically lie here or go up completely, then pull a rift that pulls much higher.
Basically, it's $6,000, and it's pulled back from $6,000 to $4,000. It's much more fun and constructive than pulling back now or going sideways here in this range… If it's bullish, I think you'll basically have to lie down here without retesting $2,900 or $2,800. ”
However, Donald warns from a technical standpoint that Ethereum will rise very quickly without a major retreat and will open the door for deep corrective actions. If that happens, traders say it's likely that the upward trend in ETH will reverse.
“Whenever I'm looking for this kind of pullback level, I sometimes go to a lower time frame. For example, the daily time frame. You open it.
But since then, we have not had a pullback since basically $2,000. We almost went straight to $4,000, right? So it's basically almost doubled. So, if something goes wrong like a macro, I think there's a world where it's going to be back like $2,900, maybe $2,800.
But I wouldn't want to. But I wouldn't want to. In general, it is often a sign of weakness and I don't think this will be sustained. ”
Ethereum traded at $3,778 at the time of writing, an increase of 5.4% on the last day.
https://www.youtube.com/watch?v=f6azi0j8a70
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