Score 8.7 (out of 10): Ethereum sets up for +42.7% rally in 2 months

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What’s Going On Here?

Yesterday, LongShortBets already had a monster Ethereum buy signal as September 19 is a soft date for the Merge – and Ethereum prices are already higher by +10% since yesterday’s signal. Here is another signal:

Why Now?

Ethereum has triggered a new price range signal. During similar occasions, Ethereum shares had a median return of +42.7%, over the following 2 months – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for Ethereum received a high score of 8.7 (out of 10). This insight was generated on 2022-July-16 with last price of 1,342.65.

What’s This Asset About?

Ethereum is in the crypto business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: ETH.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 1916.09 (+42.7%) has been reached. Based on Ethereum’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 1,205.85 (last price at 1,342.65), which is equivalent to a -10.2% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

8.8% (October-2021), 38.2% (July-2021), 67.4% (April-2021), 17.7% (February-2021), 114.1% (December-2020), 47.2% (October-2020), 48.1% (July-2020), -1.1% (May-2020), 20% (April-2020), 80% (January-2020).

Historical Chart:

Summary:

NameEthereum
ViewUp
Star (1 to 10)8.
Target42.7%
Time2 months
Hit Rate90%

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