{"id":382585,"date":"2019-05-16T15:00:50","date_gmt":"2019-05-16T15:00:50","guid":{"rendered":"https:\/\/wncen.com\/?p=382585"},"modified":"2024-06-11T13:39:57","modified_gmt":"2024-06-11T13:39:57","slug":"ethereum-could-almost-double-its-price-this-year-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-could-almost-double-its-price-this-year-analyst\/","title":{"rendered":"Ethereum Could Almost Double its Price This Year: Analyst"},"content":{"rendered":"

A notable cryptocurrency analyst has projected double-growth for Ethereum in the second half of 2019.<\/p>\n

Jacob Canfield, the co-founder of SignalProfits.com, predicted Ether at circa $546 based on the asset’s historical price moves dating back to 2017. The analyst noted that the Ether price is trending inside a Rising Channel<\/a> that looked strikingly similar to a channel that formed between June 2017 and early December 2017. The ETH\/USD rate in 2017 posted 186.58 percent gains inside the Rising Channel. The pair later broke out and settled its all-time high of $1,419.48 on US-based exchange Coinbase, as shown in the chart below.<\/p>\n

\"Ethereum\"<\/a>
Ethereum Price Mirroring an Old Bullish Move | Image Credits: Jacob Canfield<\/figcaption><\/figure>\n

The [Expected] ETH Price Action<\/h2>\n

Canfield speculated that the Ether price would repeat the scenario; it would trend inside the new Rising Channel until mid-June before attempting a breakout towards $308.39. The rate would then undergo a correction towards the apex of the Rising Channel, which would serve as a secure accumulation area for bulls. As a result, the Ether price would go through a sharp reversal to claim $545.87 as its 2019 high.<\/p>\n

“I [recommended] to load up at $160 with a target of $308 on 4\/22\/2019,” said Canfield. “Very similar pattern from back in 2017 that I remember trading into.”<\/p><\/blockquote>\n

\n

Very heavy in $ETH<\/a>.<\/p>\n

I gave the recommendation to load up at $160 with a target of $308 on 4\/22\/2019.<\/p>\n

Very similar pattern from back in 2017 that I remember trading into. pic.twitter.com\/5dJUwuKjYt<\/a><\/p>\n

— Jacob Canfield (@JacobCanfield) May 15, 2019<\/a><\/p><\/blockquote>\n