Real Vision CEO Raoul Pal has indicated that while the leading smart contract platform <a href="https://en.coin-turk.com/market-direction-remains-uncertain-is-ethereum-eth-on-the-verge-of-a-new-dip/”>Ethereum’s (ETH) price remains above the $2,000 level, fundamental indicators for the token are showing an upward trend.
Will Ethereum’s Upward Trend Continue?
In a recent price analysis, the former Goldman Sachs executive stated that Ethereum’s price action continues to show an upward trend. The expert commented:
Ethereum’s isolated chart continues to be one of the most bullish charts I have seen.
Furthermore, according to the macro guru, Ethereum’s market structure closely reflects increasing market liquidity. Raoul Pal said:
Ethereum against the Fed’s net liquidity: For example, Ethereum is essentially a pure play on liquidity.
In the short term, Raoul Pal noted that Ethereum is showing a potential upward trend after completing a bullish flag formation. Stressing the importance of the token’s price action, the investor highlighted:
Speaking of Ethereum, we are currently in the process of testing very important levels. We have been highlighting the bullish flag chart pattern in Ethereum for several weeks now (recently cleared), and it looks like we may form a larger cup and handle pattern. A close above $2,150 would be very positive. Something to watch out for.
Critical Formation in ETH
In conclusion, Real Vision CEO Raoul Pal mentioned that Ethereum’s price staying above $2,000 and the continuation of bullish signals in key indicators are positive signs. He also highlighted the short-term bullish potential of Ethereum. After breaking the wedge formation at the $2,087 level on the weekly chart, he expressed his long-term bullish expectation for Ethereum by saying:
If we zoom out using weekly data, Ethereum has already exited an almost perfect wedge pattern; This is a very bullish chart.
At the time of writing, according to data from 21milyon.com, Ethereum has experienced a 2.1% decrease in the last 24 hours, trading at the level of $2,023.
- Ethereum maintains a bullish trend above $2,000.
- Raoul Pal highlights key formations and liquidity play.
- Long-term optimism persists despite short-term fluctuations.
