Ethereum course at the beginning of a price rally of 90% or more in the next 2 months?

Welcome to an Ethereum course analysis on CryptoMonday! Today we look at why the ETH course could start a price rally of 90 percent or more.

Is Ethereum (ETH) about to double in value soon?

We want to get to the bottom of this question here and now. So it will be exciting and stay tuned as always. Have fun!

Is Ethereum (ETH) undervalued?

The Ethereum project has ambitious plans and accordingly the expectations of the market regarding the price actions of the number 2 of all cryptocurrencies are high. Of course we are talking about the long-awaited Ethereum 2.0 and the series of updates that go with it and to what extent this is reflected in the Ethereum course.

At the beginning of the month we already wrote about an interesting study by the analyst Adam Cochran and his extensive 109-part tweet, in which he shared his findings regarding the conversion to proof of stake at Ethereum. In it, he analyzed the 10,000 richest ETH wallets to show what the expectations of investors and how lucrative the switch to PoS really are ( here is the article about the study ).

More and more investors are trying to hoard ETH. We recently reported that the number of Ethereum wallets has risen to 40 million and highlights what the reasons are. ETH is in greater demand than it has been for a long time and this is reflected in the rapid rise in the Ethereum course. But quite a few believe that Ethereum (ETH) is still strongly undervalued and we should therefore expect a significant increase in the Ethereum price.

The linked articles have some fundamental reasons for such a price increase. From the point of view of technical chart analysis, however, there are now indications that the value of Ethereum (ETH) could very soon double.

Is the Ethereum course starting a significant price rally?

There is a very clear signal from the technical chart analysis that the Ethereum price is at the beginning of a price rally. The reason for this is a rare chart formation, which can lead to extreme price increases. We are talking about the high and narrow flag formation.

One of these was developed at the Ethereum course. Even more: The course has already broken out of this and now it is only a matter of waiting for the breakout level to be breached in order to be on the safe side.