After the upgrade of Shanghai and Capella (collectively known as Shapella), Ethereum (ETH) cancelled its pledge for the first time since its launch in December 2020. Its price exceeded the psychological threshold of $2000 and remained stable, allowing investors to try to measure its future trendFor this reason, some cryptocurrency traders useBlockchain Center's EthernetFang Caihong's price chart tracks the historical trend of digital assets relative to various moving averages (MAs), which may help identify certain trends and enable people to make investment decisions
After the upgrade of Shanghai and Capella (collectively known as Shapella), Ethereum (ETH) cancelled its pledge for the first time since its launch in December 2020. Its price exceeded the psychological threshold of $2000 and remained stable, allowing investors to try to measure its future trend
For this reason, some cryptocurrency traders useBlockchain Center's EthernetFang Caihong's price chart tracks the historical trend of digital assets relative to various moving averages (MAs), which may help identify certain trends and enable people to make investment decisions.
Currently, the rainbow chart indicates that Ethereum is in a "sell off" stage, represented in purple and ranging from $0 to $2320, as it is attempting to break through the "undervalued" area (blue), which is located between $2320 and $3282, according to data retrieved by Finbold on April 18th.
Bitcoin indicating trends in 2035（BTC）On the contrary, Ethereum (currently) only allows users to observe possible trends in the coming months (until October 2023), but people can still make informed guesses about early chart patterns based on it.
Specifically, the last time Ethereum was in the "sell off" area was in July 2020, and it took nearly a year (until May 2021) to reach the peak of $4354 in the "but we * earned * it" area. Today, ETH's region is between $14625 and $21231. If the chart pattern repeats, it may not occur until February 2024.
Prior to this, Ethereum had only experienced one "sell off" region - in October 2015, it soared to the region four months after "back to BTC. That is to say, after this bullish rebound, it reached the "undervalued" region in January 2017. However, ETH crossed the barrier of "the largest foam area" in May 2017 and stayed there alternately with "back to" Bitcoin? Until August 2018.
If this pattern happens again, it will mean that Ethereum may soar to "return to BTC?" in August 2023 (currently between $21231 and $30654), then fall to "undervalued" in September 2024 (currently between $2320 and $3282), and then soar to the "largest foam area" ($30654 and above) in January 2025.
Ethereum Price Analysis
As of the current situation, Ethereum is currently changing hands at a price of $2104.50, rising 0.56% on the same day, accumulating a weekly increase of 10.19%, and an increase of 18.94% last month, as the asset has maintained nearly 80% growth since the beginning of the year.
Considering all factors, the most bullish rainbow chart scenario for Ethereum is that it exceeded $21231 in August. On the other hand, it is possible to reach $14625, but it will not occur before February 2024. However, it is important to remember that the situation in the encryption industryprobablyIt will change rapidly and depend on more external factors, not just chart patterns.
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