#discovercrypto

Discover Crypto, a prominent YouTube channel, has identified signals that could lead to a tenfold increase in Ethereum's value next year. In a recent video, the channel analyzed Ethereum's previous price movements, enabling the identification of an impending upward trend. According to the blogger, Ethereum has overcome long-term horizontal resistance, marking the beginning of the previous bullish cycle. Using the ETH/USD daily chart on TradingView, he illustrated that the horizontal resistance channel lasted approximately 1029 days. Following the breakthrough, the leading altcoin experienced rapid growth. The channel host demonstrated that 130 days after the breakout, Ethereum surged over fivefold. He compared Ethereum's price behavior in 2020 with the current trend, highlighting significant similarities that could lead to a similar outcome. Based on this historical pattern, the expert concluded that by September 2024, Ethereum could be trading around $3500. Moreover, he predicts future growth for the altcoin within the range of $10,000 to $12,000. This forecast relies on the Relative Strength Index (RSI) momentum indicator. After surpassing the overbought RSI level in 2020, Ethereum experienced a tenfold increase. Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Readers should conduct their own research and consult with financial advisors before making investment decisions. Read the full article