ETH is printing mini after mini after breaking out of it’s ascending pattern and could at any moment (any hourly candle) strike the target of $1521. The first measured moved outside of the ascending will be $1428 but since that will take out the ATH , there will be a plethora of add-ons and first time buyers piling onto PayPal and ApplePay and Coinbase to purchase their first ETH token ever.
This ETH token will be spot supply and suck out the known liquid supply and push prices much higher while punishing all who sold in the recent run up waiting for much lower prices as well as the shorts who think they are smarter than the market.
Additionally, those who lended ETH to the Grayscale ETH-e fund are now having to buy spot ETH on the market as they just redeemed their shares this past monday and are trying to buy on dips, but are finding it very difficult as they are in a conundrum of whether to wait and buy (while price keeps printing higher) or to buy “now” while price isn’t as high… this will invariably push prices higher. So we have a masterful double supply shock whammy as known liquidity is being sucked dry.
Lastly, there are many institutions and whales with 10,000+ ETH that are buying more as they understand ETH is the last blue-chip risk-adjusted investment that hasn’t hit it’s ATH yet despite being the best tech in going around.
Fundamentally, you couldn’t paint a better picture. ETH 2.0 has 2.3 million+ ETH locked and unable to hit the trading floor, Optimistic Prime is launching on Jan 15th which will reduce ETH fees on Layer 2, the 2.0 contract itself will have a lower than BTC (something not many people know) come July 2021 as it moves to limited supply. ETH has all the right elements and has the most projects launched on its network.
Jerome Powell from the even said himself that the US Gov will launch bonds on ETH’s protocol … it’s simply the most trusted, best tech around that even the Fed endorses ETH:
What more can you ask for???? IT’s surprising ETH isn’t at $5k right now but one day in the not so distant future it will be and you have the ultimate chance to get in right now at a discounted price before the rest of the world wakes up and realizes this sleeping giant that lurks beneath.