Score 8.8 (out of 10): Ethereum sets up for +44.7% rally in 2 months

85

What’s Going On Here?

A soft date target has now been set for the Ethereum merge to happen during the week of September 19. The Merge is seen by many analysts as a bullish event.

Why Now?

Ethereum has reached a new shorter-term high. Previously, during similar occasions, Ethereum shares had a median return of +44.7%, over the following 2 months – based on 10 historical occasions with 9 of those showing positive returns (90% hit ratio). This buy signal for Ethereum received a high score of 8.8 (out of 10). This insight was generated on 2022-July-15 with last price of 1247.31.

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 1804.67 (+44.7%) 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 1112.51 (last price at 1247.31), which is equivalent to a -10.8% 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:

4.1% (February-2022), 20% (October-2021), 37.4% (July-2021), 84% (April-2021), 117.3% (December-2020), 61% (October-2020), 48.1% (July-2020), 8.9% (May-2020), 41.3% (April-2020), 106.9% (January-2020).

Historical Chart:

Summary:

NameEthereum
ViewUp
Star (1 to 10)8.8
Target44.7%
Time2 months
Hit Rate90%

———————————————————————

Leave a Reply