Hello everyone, I would like to share some Technical and Fundamental Analysis which tells me that we are close to experience ETH bull run. Destination point: Moon.
Ethereum is forming a clear Bull Pennant!
We have tested 175, 200, 270 and 300 support lines. Our resistance lines: 450, 400, 362 and 342 resistance line. The formation of the Pennant is about to over.
We also can see forming "Head and Shoulders" pattern, which can indicate bearish trend, however we can't ignore fundamental analysis.
So what's up with Ethereum on the market, and why will it follow bull flag, instead of following "head and shoulders" pattern ?
In about 24 hours, "Byzantium" code will be enforced at block 4,370,000 as a hardfork. This is a serious improvement of Ethereum blockchain.
Fork will improve transaction speed, smart contract security and even privacy.
These should fuel Ethereum for a large bull run, reaching 440, 475 and maybe even 500 levels.
Keep in mind, that there is still possibility to see it following Head and Shoulders pattern, but BTC run, positive news and Bull flag pattern yell in my ear that we are about to ride on ETH!
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