Alt-coinsPrice Analysis

Ethereum Blasts to New All-Time High

By November 25, 2017 No Comments
Just like we called in our Nov. 20th post, our favorite build-your-own-blockchain cryptocurrency finally broke out of its 3-month locked-in trading range below $350 to shoot up 33% in less than 5 days

Just as we predicted in our Nov. 20th ethereum price analysis, our favorite build-your-own-blockchain cryptocurrency finally broke out of its 3-month locked-in trading range below $350 to shoot up 33% in less than 5 days

Disclaimer:  The information in this blog represents the opinions of its author and is for educational purposes only.  It is not intended as investment advice. Cryptocurrency markets are extremely risky so you should only invest money you are willing to lose.

Build-Your-Own-Blockchain

Ethereum is the cryptocurrency that is widely perceived as an investment in blockchain technology itself.  The platform is designed for building custom blockchains and smart contracts.

Top Performing Asset

So it's no coincidence, with all the hype around blockchain, that it also happens to be the best performing asset of the year, with a return of 60x since January 1st.

In a powerful sign of investor confidence in its blockchain technology, ethereum shrugged off the drama of the Parity wallet fiasco and brok through $350 for the first time since Sept. 3rd.  Rising trendline and momentum indicators may be an early sign that the long-term uptrend is continuing.  chart: coinigy.com technical analysis: digitalassetuniversity.com

nailed it! - This chart is straight out of our Nov. 20th post in which we cited 4 key factors heralding an eth breakout to the upside: intact investor confidence after the parity wallet fiasco; a breakout of the trading range below $350 in which eth had been stuck since early sept; a rising trendline and rising momentum indicator. chart: coinigy.com, technical analysis: digitalassetuniversity.com.

We've been watching ETH carefully as it remained stuck in a trading range below $350 throughout September, October, and November, while bitcoin crushed new high after new high on a runup from $2900 to $8700.

We've been patiently waiting for the #2 cryptocurrency to make its move and resume its historic uptrend.

ETH Did Not Disappoint

We were not disappointed.  In our blog post of Nov. 20th (see chart above), we reported on 4 key factors indicating that ETH was in the midst of an upside breakout:

  • Investor confidence reflected in the price bounce after the Parity wallet fiasco
  • Definitive price breakout above $350 for the first time since sept. 3rd
  • Rising trendline
  • Confirming momentum indicators

Don't You Wish...?

If you had taken our advice and jumped into ETH in the $360 range, you'd be sitting on a cool 33% gain in less than 5 days as the cryptocurrency rocketed to $488 on Nov. 24th.

https://digitalassetuniversity.com/alt-coins/ethereum-breaks-350/

Don't you wish you had taken our advice from our Nov. 20th ethereum price analysis.?  If you had You'd be sitting on a cool 33% profit in less than 5 days as the cryptocurrency rocketed from $360 to a new high of $488.  Chart: coinigy.com, technical analysis: digitalassetuniversity.com.

The Truth Is In The Math

Blockchain technology exploits the asymmetry of cryptographic math to build a revolutionary kind of database that is esay to verify but nearly impossible to alter, fake, counterfeit, or corrupt.  Mathematical verification means that there is no need for a trusted 3rd party to serve as the enforcer or keeper of truth. The truth is right there in the math and no hacker or computer can change mathematical truth.

Ethereum, the cryptocurrency that powers blockchain technology has more than 33x'd this year.  Smart contract technology has barely even begun to reach its potential so there's plenty of room on the upside for the 2nd largest cryptocurrency to do it again.  chart: coinigy.com, technical analysis: digitalassetuniversity.com

ethereum, the build-your-own-blockchain cryptocurrency, staged an astonishing rally from $8 to $400 in the first half of this year.  since then it was stuck in a trading range below $350 throughout sept., Oct. & nov.  not any more - on Nov. 19th it broke above $350 for the first time since sept.3rd, and has now hit a new high of $488. chart: coinigy.com, technical analysis: digitalassetuniversity.com

Self-Verifying Data, Self-Enforcing Contracts

Ethereum (it's actually called "ether") is the native cryptocurrency that powers the ethereum network - one that allows anyone to build their own blockchain. Self-verifying data is only part of the magic of blockchain.  The ethereum network is also designed to facilitate the creation of smart contracts which, like robot lawyers, can automatically execute the terms of complex agreements when specific conditions are met.

Showing remarkable resilience in the face of drama, ethereum price has broken above $350 for the first time since Sept. 3rd.  Is the _build-your-own-blockchain cryptocurrency about to resume its strong uptrend?  chart: coinigy.com, technical analysis: digitalassetuniversity.com

ethereum was locked in a trading range below $350 for 3 months.  if you followed our advice and jumped on the breakout above $350 on Nov. 19th, you'd be sitting on a 33% gain less than 5 days later.  chart: coinigy.com, technical analysis: digitalassetuniversity.com

The highest value blockchain and smart contract applications have yet to be imagined and developed, so there is plenty of room on the upside for the #2 cryptocurrency, whose market capitalization now stands at $45 Billion.

Leave a Reply

GET PAID TO LEARN CRYPTOCURRENCY INVESTING!

By clicking Subscribe you agree to the following: Privacy Policy, and Terms & Conditions.