Sunday, July 19, 2020

Why I set $500 as my target for Ethereum (ETH) – Price analysis

Ethereum (COIN:ETHUSD) reached a yearly low in March 2020 when it fell below $100. Following that, price began to move upwards gradually, before it started to consolidate from June 2020.


Price is making effort not to go below the EMA 21; but the Williams’ % Range period 20 is

moving downwards, and it may even reach the oversold region.


However, as long as price is not significantly below the EMA 21, any upward slope in the Williams” % Range would become a “buy” signal. The market is expected to go further upwards, no matter the pullbacks along the way.


Just recently, Ethereum was around $500 (it was even far higher than that before), but it later nosedived.


Now, $500 is my initial target for ETH, which is expected to be reached in less than 2 years to this time. This expectation may be realized sooner than that; and until then, I will hold my position.


Azeez Mustapha


Market Analyst, Trading Signals Provider and Coach


Trading realities: Trading realities 




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