Research firm Santiment has determined that Ethereum’s supply radius on exchange platforms is at a 28-month low. This is mainly caused by individuals keeping ether in wallets and mining not keeping up with demand.
This basically means that more buyers and less supply increase the price, it is in a bullish wedge at the moment but a break out could see quite the rally. I’m watching carefully for a proper breakout rather than a bounce up and then back into the wedge.
Targets around the $1900 mark give or talk half a per cent. So on a bullish break, I will be in the trade (if anyone has any ether to sell me).
Etherium is a great crypto with its ability to store contracts and other data such as tokens within it’s blockchain.
Will put an alarm on the upper line using TradingView