The crypto market is still in the downtrend, but it seems like things might change soon. The rumors about altcoin season start in September have been all around since summer 2019, and Ethereum can be one of the first to break the vicious circle. Let’s check out Ethereum price predictions from TradingView and see what Twitter users think – there are various controversial opinions concerning the nearest future of ETH.
What do Twitter users think?
The previous bullish price predictions seem to be less and less possible, though some people don’t lose hope and are being optimistic:
Like, really, very optimistic:
But what if the bottom hasn’t been reached yet?
These predictions are not based on facts and technical indicators, so let’s switch to price charts and real arguments.
Time to buy?
According to thunderpips, ETH price is forming a continuation pattern to the upside. We should watch strong price action at the current price for buy. It’s a perfect moment to enter the market and wait for ETH to gain traction. If the scenario plays out, ETH might cost $200 in October.
It’s calm before the storm
On Ethereum price chart, we can see:
Falling Wedge Forming in Daily Time frame But Expecting Another Lower Low;
Volume is Decreasing & Indicators Are Almost at Bottom As Well.
We should wait for another dip and buy around $145-150, then check the sell targets (midterm) at $186-200-230-270. The stop loss is below $136. Thus, our profit potential is 88%.
Will Ethereum follow Bitcoin?
Ethereum is moving above resistance and growing slowly, but will it reach the previous price levels? We can see that ETH/USD is breaking/challenging the trendline from the top hit on the 6th of August. A good close above this trendline which coincides with EMA50 ($176.38), and can signal that ETH/USD is moving higher.
If EMA50 can be conquered, we might see ETH price of $185 or EMA100. It will be followed by $195 and $205 price range. With Bitcoin ( BTCUSD ) moving pass EMA10 already, we know Ethereum ( ETHUSD ) to follow, so it can easily move pass above this resistance and go higher. We have bullish divergence showing up on the MACD as well.
But how high can ETH get? This is yet to be seen, we can be looking at a small bounce or something bigger. As the candles start to close, we will have a clearer picture – the current signals are short-term ones.
Bear flag is waving
ETH has, since the bottom break of the Descending Triangle 2 weeks ago, tried to regain the bottom break region. Since we have rejected 2 times now, it gives us a clear bear flag with an upward tilted channel. The bulls have to clearly regain $185 and break higher, in order to negate the bear flag on the Daily. Thus, Ethereum can go down in the nearest days, and $150 price is possible.
And one more bearish scenario:
So, which scenario is possible? In the short term, Ethereum can touch the $160 level and even go lower – it will be a preparation for a massive breakout. In a longer perspective, ETH looks profitable, it can reach the price of $200 if the altcoin market uptrend starts (probably, ETH will spark this tendency).
Ethereum (ETH) price charts by TradingView