It has been just revealed that Ethereum is showing off one of the most bullish charts out there. Check out the latest reports about this below.
Ethereum’s bullish predictions are here
Raoul Pal, the CEO of Real Vision, has pointed out that Ethereum (ETH), a smart contract platform, is showing bullish indicators as the altcoin stays above $2,000.
Pal, a former executive at Goldman Sachs, has analyzed the current market conditions and concluded that Ethereum’s price action is displaying a series of bullish patterns.
“The zoomed-out chart of Ethereum continues to be one of the most bullish I have seen.”
According to the macro guru, Ethereum’s market structure is closely mirroring increasing market liquidity.
“Fed net liquidity versus Ethereum: Ethereum, for example, is basically a pure play on liquidity.”
According to Pal, Ethereum may be forming a bullish cup-and-handle pattern in the short term, having already completed a bullish flag pattern. The investor believes that a close above $2,150 could drive Ethereum towards a bullish trend.
Pal has been identifying Ethereum’s bull flag chart pattern for several weeks, which was cleared recently.
Ethereum might now be forming a larger cup-and-handle pattern, which makes a close above $2,150 incredibly important.
Additionally, Pal is optimistic about Ethereum’s long-term prospects, particularly after it broke out of a wedge pattern at $2,087 on the weekly chart.
Ethereum’s weekly data suggests that it has already broken out of its near-perfect wedge pattern, which is a very positive sign.
Not too long ago, we revealed the fact that Fidelity financial services company, is now joining the list of companies that want to offer a spot market Ethereum (ETH) exchange-traded fund (ETF) to US investors.
According to a new filing submitted to the US Securities and Exchange Commission (SEC), the $4.5 trillion asset manager is planning to list and trade shares of the Fidelity Ethereum Fund.
