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  • Writer's pictureT. Livingston

Ether Forms An Incredibly Beautiful Base With Reduced Supply

Ethereum remains the apple of my eye as it continues to form a spectacularly beautiful base setting up with enormous potential. When I see a chart like this, it's hard for me to express the emotions that arise inside of me. It's almost like a man who sees a beautiful woman enter the room for the first time or someone who searches the world for a fine jewel or treasure and finally sees it before his eyes. The symmetry, the shape, the tightenings-it's just all right there in the chart.

Since bottoming in 2022, Ether has built a very large base. These type of bases wear out all the weak holders. The FTX collapse put ETH front and center as it began to exhibit subtle signs of strength. While it may seem odd to see Ether acting well while Sam Bankman-Fried is on trial, those who wanted to sell their crypto holdings most likely did have already done so. Another factor that is important to note is that the supply of Ethereum has been reduced due to the move from proof of work to proof of stake.

I currently own Ether and will be looking to add to my position it can clear recent resistance with conviction.

Risk right. Sit tight.

To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page. YouTube Channel

Full Disclosure: I currently own Bitcoin and Ethereum. Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

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