Global M2 Money Supply Says Ethereum Price Will Reach $20,000, Here’s When

The Global M2 Money Supply has been on the rise over the last year, reaching new peaks in the ￰0￱ chart was widely applied to the Bitcoin price as analysts believed that it projected Bitcoin reaching new ￰1￱ far, the Bitcoin price has already climbed to $124,400 with the money supply chart, and now, analysts are applying the same Global M2 Money Supply chart to the Ethereum price, showing that the altcoin could land at 5-figures ￰2￱ The Global M2 Money Supply Says About Ethereum Price Crypto and market analyst Ted Pillows has taken another route when it comes to predicting the Ethereum price action, and this time, he’s using the Global M2 Money Supply ￰3￱ the X post, the analyst superimposes the Ethereum price chart into the Global M2 Money Supply chart to show how the altcoin has been performing in ￰4￱ Reading: Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level The chart shows that the Ethereum price is still lagging behind the money supply chart, but its current position shows it might be ready for another ￰5￱ the money supply chart would mean that the Ethereum price could see a decline below $4,000, but this is ultimately bullish for the ￰6￱ is because of the liquidity that lies at the $4,000 level, and if this liquidity is taken out, then the analyst sees the Ethereum price using this as gunpowder for its next ￰7￱ in line with the Global M2 Money Supply trend, this blowout could lead to an over 300% increase in ￰8￱ suggests that the Ethereum price could reach as high as $18,000-$20,000 if this plays out, with a timeline moving into the year ￰9￱ in a more conservative stance, the analyst believes that the Ethereum price could trade at half of this target, which would be around $10,000.

Ultimately, Pillows believes that Ethereum is still bullish in the long ￰10￱ $10,000 Target Pillows is not the only crypto analyst who sees the Ethereum price ultimately reaching the $10,000 ￰11￱ analyst, Titan of Crypto, had previously predicted that Ethereum would ultimately reach $10,000 this ￰12￱ points to the Bull Pennant formation on the chart, whose breakout would inadvertently put the Ethereum price at the $10,000 target this year if it plays out ￰13￱ Reading: XRP Needs To Defend $2.98 Support To Avoid Deeper Correction – Details However, for now, it seems the major problem for Ethereum lies at the $4,000 level with the budding ￰14￱ analyst Donald Dean points out that if the altcoin were to lose support at $4,200, then the next area of major support would lie at $4,070.

However, this $4,070 would serve as a launch point if it ￰15￱ this happens, then the analyst sees the ETH price going on a 50% retracement, and eventually climbing to the $5,766 target as the rally takes ￰16￱ image from Dall. E, chart from ￰17￱