The latest Ethereum analysis from a closely followed crypto trader could indicate that ETH may be gearing up to take off. Covered: Parabolic Matt Ethereum Analysis ETH Developer Thinks Crypto’s Future Is Bright This chick I met told me $ETH is going to $10,000 next year and I tend to believe her pic.twitter.com/OzqnpGS2M5 — theweeknd.eth […] The post It’s Time To Pay Attention To Ethereum, According To One Crypto Market Analyst appeared first on CryptosRus.

It’s Time To Pay Attention To Ethereum, According To One Crypto Market Analyst

The latest Ethereum analysis from a closely followed crypto trader could indicate that ETH may be gearing up to take off.

Covered:

  • Parabolic Matt Ethereum Analysis
  • ETH Developer Thinks Crypto’s Future Is Bright

Ethereum (ETH) and the crypto markets are looking green today as we come to the close of 2021. While ETH is still currently stuck in a downtrend, the closely followed crypto analyst Parabolic Matt is dropping off some fresh technical analysis for Ethereum that suggests that the most recent sell-off could be over soon.

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Parabolic Matt Ethereum Analysis

In the last few weeks, Ethereum has been grinding down slowly from its previous all-time high over $4800 and is currently trading at $3796. Looking at his most recent chart, Parabolic Matt highlights how Ethereum’s weekly relative strength index, which measures an asset’s overbought and oversold conditions, is currently approaching a historic trend line of support that marked local bottoms for ETH before it went on to put in new highs.

If you’re an Ethereum bull waiting on a good signal to load up, from a technical perspective, a sustained hold of this trend line bodes quite well for the asset moving forward.

However, a breakdown below this trend line could spell disaster for the second-largest crypto asset. Given that this RSI trend line has pretty much signaled a continuation of the bull run for almost two years now, breaking below it could be a telling sign that the Ethereum bull run might be coming to an end.

ETH Developer Thinks Crypto’s Future Is Bright

Aside from the technical perspective of Parabolic Matt’s Ethereum analysis, core developers behind the crypto asset also see a bullish future for crypto due to the industry’s incredibly strong fundamentals.

Lane Retting, one of the core developers behind Ethereum, is betting big on cryptocurrency. In a recent interview with Yahoo Finance, he explains just how pervasive he thinks crypto will be in the daily lives of the average person.

“You know, debit cards, applications like that, I’m finding myself doing more and more of my day-to-day life either entirely in crypto or partially in crypto in the sense that we have, you know, large companies that are acting as bridges now that allow us to transact in the dollar world using, you know, crypto assets, things like that.

I don’t think that there’s any area of our lives it’s not going to touch. And I think, you know, it may be a little bit late for us, but I think that our children are going to grow up in a world where they don’t have traditional bank accounts. They have sort of crypto accounts.”

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Regardless of what you may think of Ethereum specifically, it’s undeniable that Vitalik Buterin tapped into a technological advancement that’s proven to have meaningful value in the marketplace. If you weren’t aware, Buterin essentially created Ethereum out of spite; he was frustrated with the team behind World of Warcraft for removing a stat from one of his in-game items. While the act itself was small, the message about the dangers of centralized ownership rang clear in Buterin’s head.

Only time will tell what Ethereum’s future holds, but the introduction of smart contracts to the world of crypto has opened up doors to an entirely new virtual economy, and I think it’s safe to say that it won’t be going anywhere in the long run.

The post It’s Time To Pay Attention To Ethereum, According To One Crypto Market Analyst appeared first on CryptosRus.