- Ethereum has busted through the $4,000 level and is now testing its all-time highs as I record this.
- I anticipate we probably will continue to go higher, but we could get a short-term pullback that offers a bit of value.
- I would anticipate a lot of people would be more than willing to jump in and take advantage of cheap coins as it were.
But really, I think you also have to keep in mind that the market does not operate in a vacuum. It needs Bitcoin to pick it up. If Ethereum pulls back, and it probably will sooner rather than later, there should be plenty of support near the $3,600
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We also probably have a little bit of minor support near the $3,800 level. All things being equal, this is a market that will, I believe, continue to rise right along with the rest of crypto. That is something that needs to be kept in your mind, because it does tend to all move in the same direction.
Keep in mind that the altcoins out there will continue to move in this market. With some of these smaller coins, it has a knock on effect mainly due to the fact that most of them operate on the Ethereum ecosystem. So the future is bright for Ethereum, assuming that one of these actually ends up being a useful thing. That's a completely different conversation. But what we do know is everything in crypto is going straight up in the air again. We know the cycle. We know eventually things fall apart, but as things stand right now, there's really no signs of that. So, I think you continue to look at Ethereum as something that you can buy on dips. Where do we go? Well, the measured move is roughly $4,300 if we can keep up the momentum.
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