Ethereum Is Likely to Perform Really Well in 2021 Due to Ichimoku Signal

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Ethereum is likely to perform extremely well in 2021, analysts say despite the recent rapid drawdown in ETH’s price. The coin currently trades for $350, around 30% below the recent year-to-date highs of $490, set just a few weeks ago. Ethereum’s strong move lower was a result of a correction in the Bitcoin market, along with a rapid slowdown in the utility of leading decentralized finance platforms. Ethereum To Perform Really Well in 2021 Speaking on Ethereum’s potential in 2021, Brave New Coin’s Josh Olszewicz recently noted that the Ichimoku Cloud on the weekly has flipped green for the first time since late 2018. The Ichimoku Cloud is an indicator that shows the trends of an asset and important levels to watch. Olszewicz believes that the Ichimoku Cloud flipping green will mean that Ethereum will perform “extremely well” in Q2 of 2021: “1W $ETH. Cloud green for the first time…

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