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‘One of Most Bullish Charts I’ve Seen’ – Ex-Goldman Sachs Executive Details Ethereum Outlook As ETH Prints New Pattern

‘One of Most Bullish Charts I’ve Seen’ – Ex-Goldman Sachs Executive Details Ethereum Outlook As ETH Prints New Pattern

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Source: Daily Hodle

Real Vision CEO Raoul Pal says that key indicators are flashing bullish for the smart contract platform Ethereum (ETH) as the altcoin remains above the $2,000 level.

In a new analysis, the former Goldman Sachs executive says that Ethereum’s price action continues to print bullish patterns.

“The zoomed-out chart of Ethereum continues to be one of the most bullish I have seen.”

According to the macro guru, Ethereum’s market structure is closely mirroring increasing market liquidity.

“Fed net liquidity versus Ethereum: Ethereum, for example, is basically a pure play on liquidity.”

Source: Raoul Pal/Substack

In the short term, Pal says that Ethereum is now potentially forming a bullish cup-and-handle pattern after having completed a bullish flag pattern. The investor says Ethereum will likely gain bullish steam if it closes above $2,150.

“Speaking of Ethereum, we’re currently in the process of testing very important levels. We have been highlighting the bull flag chart pattern in Ethereum – which we recently cleared – for several weeks now and it looks like we could be forming a larger cup-and-handle pattern.

A close above $2,150 would be very positive. Something to keep an eye on.”

Source: Raoul Pal/Substack

He also says that he is long-term bullish on Ethereum after ETH broke out of a wedge pattern at the $2,087 level on the weekly chart.

“If we zoom out using weekly data, Ethereum has already broken out from its near-perfect wedge pattern; it’s a very bullish chart.”

Source: Raoul Pal/Substack

Ethereum is trading for $2,023 at time of writing, down 2.1% in the last 24 hours.

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The post ‘One of Most Bullish Charts I’ve Seen’ – Ex-Goldman Sachs Executive Details Ethereum Outlook As ETH Prints New Pattern appeared first on The Daily Hodl.

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Author: Daily Hodl Staff