Hello, and welcome to another article.
Before we begin the post, I'll like to interest you in my Telegram group where I share my setups and trades that I'm taking. So far, I've caught the 15% move ON ICX, 20% move on DOGE and 9% move on ONE. Check it out if you're interested here.
With that said, let's get on with the post!
Everyone knows ETH. It's the father of DEFI, the god of altcoins and the king of ERC-20.
What we don't know is that it's highly undervalued, as given by the Puell Multiple.
What is the Puell multiple you ask? The Puell multiple is simply a method of ranking assets based on the metrics of their fear and greed index. It's a complex method comprised of many parts, so it's far beyond the scope of this article.
However, we can see that ETH is undervalued by this metric. That is our first indication that it's price discovery is yet to be, well, discovered.
Second, we can see that a lot of alts have been popping all across the board. What can you notice about those alts?
That's right. They can ALL be staked.
Staking was met with a lot of hype around it last year and early this year when XTZ was pumped 100% in a few days. I regretted buying only $100 worth of it because of this, and I still regret not buying more.
Ethereum is switching to a PoS consensus system with ETH 2.0. EVERYONE and their dog is wishing for a stake able Ethereum. The thing is that we don't know when ETH 2.0 will be released.
There have been multiple announcements saying that "it's coming", but not any where it actually came.
I believe that the hype around ETH because it can be staked, coupled with the thousands of people who use the Puell Multiple for valuation would be able to pump ETH to the moon.
Whenever ETH pumps, ETHBTC pumps. And whenever that pumps, it's the beginning of alt season.
ETH has been facing diagonal resistance for a while now, as well as multiple timeframe horizontal resistance. Last week, ETH peeked above the horizontal resistance, and closed ON it. This week, we hope to see that resistance destroyed, and a retest of that resistance next week would be greater than the 4th of July fireworks for ETH.
All I know is that you should have a bag of ETH.
Publish0x is also launching ETH tips soon, so get ready to accumulate!
I hope you enjoyed the article. If you did, a like, follow and tip would all be appreciated. Thanks for reading!
