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Blockchain Weekly - Issue No. 8


BlockHash Research

April 12 · Issue #8 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects and much more!

Hey guys! I have some good material for you today on Ethereum that I want to cover. I have been saying for a while now that April will be an important month for crypto and I still believe that.
The biggest reason will be the balance sheet reveals for Q1 of this year. And they will likely show more than just Bitcoin. Since the 2nd biggest crypto by market cap is Ethereum and it’s the biggest Dapp platform in the world, I would assume companies will be taking a strong stance aligning with the crypto.
The price has already shot above $2000 and is holding well. Most of that is attributed to the boom in NFTs, the rise of DeFi and the growing interest in DEXs. While competitors can surely take away market share from Ethereum, it hasn’t happened yet and it’s still alive as an investment.
So today I’m going to show you the longterm Ethereum chart and how you might be able to find an investment window during all the craziness.

Ethereum (ETH)
Ethereum 1-Day Chart
Ethereum 1-Day Chart
Bullish Prediction:
Expanding out to the end of the year, Ethereum has a nice upward funnel (and potential triangle pattern) that should promise higher highs going forward. The next key area for ETH to test will be $2200-2400, which is around the Pivot at R2. If it clears this area, I’d look for a breakout to occur and for ETH to enter volatile price discovery. All indicators are GREEN at the moment, with ETH up 10% in the last week.
Bearish Prediction:
The bears are losing the upper hand on this trend, so I don’t see it as a likely scenario that ETH would move downward from here. But a “Black Swan” to look out for is a collapse in the NFT boom and/or Artists moving to another blockchain, like Cardano or Tezos. A move like that could reverse the ETH price and break downward.
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Stay tuned for the newsletter next Monday and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp
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