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ETH Next Long Targe...
 
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ETH Next Long Target $3800

Kyle Niedzwiecki
(@kyer)
Eminent Looter Admin

My TradingView Read from the weekend: TradingView Chart

Just like Bitcoin, Ethereum has had a great month going from $2,340 to $3,242 heading into the EIP-1559. From here, the price has been stable and rejecting off of $3,242. With Bitcoin moving back up in price as well as altcoins like Cardano going upwards to new highs, Ethereum should follow their price action.

ETH was ranging from $3,100 - $3,400 and was being squeezed until it broke out higher and heads to the $3,821 (2.618 Fib).

Ethereum has had the most good news in the cryptocurrency sector recently because of the NFT and ERC-20 token hype, as well as the newly-implemented EIP-1559 that is burning tokens as we speak.

Ether, the native token of Ethereum’s blockchain, looks to have become more scarce than Bitcoin since the activation of EIP-1559. Ether’s daily annualized net issuance fell to 1.11% earlier this week versus Bitcoin’s 1.75%. If this trend continues, Ether could attract store-of-value demand, which until now has been concentrated mainly towards Bitcoin.

August is shaping up to be a record month for nonfungible token (NFT) sales, with almost $900 million spent on them over the past 30 days.

$3800 is the first target, then I am looking at 4k and above going towards previous local highs. 

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Topic starter Posted : September 1, 2021 12:20 pm
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Kyle Niedzwiecki
(@kyer)
Eminent Looter Admin

$3,821 TP hit on Ethereum. Next Target looking at $4,100-$4,300

1630541276-97D58C43-EC17-497C-9195-705F63B310FB.png
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Topic starter Posted : September 1, 2021 8:07 pm
ramen
(@ramen)
Newbie Looter

Great analysis!

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Posted : September 14, 2021 4:20 pm
Kyle Niedzwiecki
(@kyer)
Eminent Looter Admin

$3400 resistance level is turning into support. Looks like a bit of a consolidation / accumulation phase before the next leg up.

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Topic starter Posted : September 17, 2021 6:04 pm
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