Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet
UNISWAP V3 ON THE WAY WHILE ETHEREUM BRAKES OUT - APRIL BULLISH MONTH
Ethereum seems to start making moves and I'm starting to see more ppl hype about EIP-1559 but from what I understand that wont necessary bring the gas fees neither make ETH faster but I'm starting to see that there is some hype behind this, ppl on twitter start to mention that EIP-1559 is not priced in like its going to make anything different, I understand it will burn part of the fee but that wont necessary make the price go up, for price to go higher ETH needs more demand but there is data and potentially the release of UNISWAP V3 that can be the spark for an ETH rally.
Today ETHEREUM just close its highest candle ever in the ETH/USDT department, hashrate keeps increasing dramatically and if price is high enough it could remain increasing.
ETHEREUM/USDTP 1D Chart
When I see all this wicks up and down what I do instead of using the candles change to line chart, this only take in consideration close
ETHEREUM/USDTP 1D Line/Chart
I don't consider this been bias although sometimes in trading you need to get creative to understand things better, change perspective, sometimes even invert the chart and check how you feel about it, by using the line chart we can see that after that massive run on January 2021 Ethereum top at $1280 to then create support at $1048 beardly staying above $1k and from there it start to go up slowly again to make its second support on Jan. 21 at $1110, after this a trend line was created that has not been broken with the result of a potential massive ascending triangle which is a bullish pattern, pattern must not play out so this is not a guarantee but so far so good, if we go back to the candle chart its similar but all those wicks might make you think the pattern is broken after sometime but it actually didn't.
ETHEREUM/USDTP 1D Chart
Ethereum has remain bullish so far, for me a double top is out of the way since we would need confirmation and that confirmation is braking the trendline, for that ETH has to close below $1700 and after that second confirmation would be a close at $1500 and then call it GAME OVER, that's is very unlikely at market conditions and how the ETHEREUM community has remain together despite the hate for high gas fees.
ETHEREUM/USDTP 1D Chart
All this blog post for me are essentially part of my trading documentation so want to be sometimes as much specific as possible and go back in time to see what I did wrong in case it doesn't play out.
With how slow the market is right now I don't think we are going to see a break out, yes it did touch the higher part of the triangle but getting into a small zone of resistance, right now is not the time to buy to trade if you haven't got any ETH, a retest of the previous resistance zone be nice something in between $1800 - $1900 to then brake out of the triangle and get into price discovery once again. Second bullish scenario in case Bitcoin decides to sht the bed and moves sideways is retest the lower part of the triangle but still remain bullish, on the 1D tf the price has always remain above the 50EMA creating new higher lows so this is still very bullish and the support of the community is there with EIP-1559 coming up that will start burning fees and make gas fees more predictable potentially more stable, it will be very interesting how this fork will change ETHEREUM and its impact because imagine how DEGEN is already the DEFI space if ETHEREUM gas fees somehow reduce I think we might have another BOOM in the ETHEREUM DEFI space like it did last year, this past week ETHEREUM has been very active despite how slow Bitcoin has been.
ETHEREUM ACTIVE WALLETS PAST 7D
UNISWAP V3 is coming
I want to make a post about the updates coming on UNISWAP V3 probably will have it ready for next week, from what I have read its a game changer, almost totally different exchange and now other projects wont be able just to fork UNISWAP code as SUSHI SWAP did and IMO that's not bad, as long as all data is onchain the code itself can stay close if they want to because at the end of the day its a business, SUSHI saw an opportunity and took it but after all they did was a pssy move.
If ETHEREUM somehow work out the high gas fee issue at least to some extend where ppl feel that its getting better with the release of UNISWAP V3 I think the price of ETHEREUM can easy go to $3k, Im already considering $3k between April and March.
UNI/USDT 1D Chart
The UNI token that is the governance token for UNISWAP, its obvious that with the a new release of UNISWAP and ETHEREUM been bullish there will be some HYPE behind UNI, IMO this is a good time to get some UNI, some ppl might think this is a bearish retest but considering how the altcoin market is moving IMO its not the case, a channel has been stablish and the price is going back into a positive momentum that just needs that spark for the price to regain the top part of the channel and potentially brake out, always have a stop loss, but the spark to UNI price could be V3 and ETHEREUM going up, Bitcoin dominance just broke a critical level and is looking weak bearish AF meaning alts are going to keep pumping and this is just the start of the altcoin cycle, UNI is one of the top 10 crypto currencies out there across coin listing sites so its no secret that if this altcoin pump continues with all the news and changing coming to UNISWAP and ETHEREUM is very likely that UNI will skyrocket too.
BTC.D 1D Chart
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