The title suggests a rocketing movement of the token ETH. And in the long run it´s quite possible.
What are the conditions for this projection?
1. ETH has ended the long decline and entered a new motive wave
2. The chart patterns (trend channel and swing trend lines) have to be broken up - of course some intermediate correction have to be taken as normal
3. the fib retracements are resistance lines (38,2% / 50% and 61.8% seem to be stronger than the others) - so once they´re broken they consist as support
4. beyond 992$ the air becomes thinner but the resistances won´t be so strong as before
5. with higher prices the momentum gains strength - volume will come back
6. Ethereum is reaching a new ATH
As mentioned at point 2 - some intermediate correction are normal. But none of them should stop the bullish trend.
Ethereum has proven its use case and is widely accepted - even when some problems occure from time to time. It´ll has to change from PoW to PoS (casper-protocol) and solve the problem with the scalability. And no one knows what happens when all ICO´s based on Ethereum begin to trade with their own tokens (and not the ETH).
I´m conviced that Vitalik Buterin (and the other developers) will find new role models and improvements for Ethereum.
What are the conditions for this projection?
1. ETH has ended the long decline and entered a new motive wave
2. The chart patterns (trend channel and swing trend lines) have to be broken up - of course some intermediate correction have to be taken as normal
3. the fib retracements are resistance lines (38,2% / 50% and 61.8% seem to be stronger than the others) - so once they´re broken they consist as support
4. beyond 992$ the air becomes thinner but the resistances won´t be so strong as before
5. with higher prices the momentum gains strength - volume will come back
6. Ethereum is reaching a new ATH
As mentioned at point 2 - some intermediate correction are normal. But none of them should stop the bullish trend.
Ethereum has proven its use case and is widely accepted - even when some problems occure from time to time. It´ll has to change from PoW to PoS (casper-protocol) and solve the problem with the scalability. And no one knows what happens when all ICO´s based on Ethereum begin to trade with their own tokens (and not the ETH).
I´m conviced that Vitalik Buterin (and the other developers) will find new role models and improvements for Ethereum.