Blockchain Information – Analyst Scott Melker Reveals Epic Finish-of-Yr Worth Goal For Ethereum | Fintech zoom

Blockchain News – Analyst Scott Melker Reveals Epic Year-End Price Target For Ethereum

Crypto strategist and trader Scott Melker believes Ethereum will set off a meteoric rise and exceed even the most optimistic expectations before the end of 2021.

In a new video, the trader says Ethereum (ETH / USD) has broken out of a bullish continuation pattern after months of consolidation.

“As I said the other day, I showed the target of $ 3,600, which I think is actually a bit conservative. How did I achieve this goal? We have this massive bull pennant here … To achieve the bull pennant goal, measure the flagpole, that’s this whole move, and you extrapolate it up from the breakout. “

Melker emphasizes that he believes Ethereum can be well above its original goal.

“The goal of this move is $ 3,600, but like I said, I think it can go a lot higher, and I believe it could even go as high as $ 10,000 by the end of the year due to the network effect and the general upward trend … I don’t think it’s crazy at all. It’s an easy 5x from here. We saw that Bitcoin made many multiples of that in a year. “

The crypto influencer also deals with ETH / BTC, which he believes has managed to end its month-long downtrend.

“We’ve had this sustained downtrend since February. A low here (0.29), a nice jump that created this downward resistance, and then a bullish SFP (Swing Failure Pattern), a wick below the previous low that found a ton of liquidity, broke that line and is now steady moved forward. Technically, Ethereum should return to the highs of this move starting February, around 0.046.

We’re only at 0.033 now so that would be quite a step, but I think it can go a lot further. “


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Blockchain News – Analyst Scott Melker Reveals Epic Year-End Price Target For Ethereum

Tags: blockchain news

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