To The Moon

The Ethereum markets rallied significantly during the session on Thursday, as we continue to see a lot of buyer pressure. The entire crypto market seems to be on the precipice of a bigger move as well. Ethereum should be a major beneficiary.

We can see that Ethereum have passed $2,600 mark and the trend indicator has given upside signal.

Ethereum Technical Analysis

As we looked at the Ethereum market, we have see a continuation of the move higher on Thursday (11 Jan). This has been going higher for the past 2 days. This certainly looks like Ethereum is ready to go higher.

I believe as investors, we are looking to buy into Ethereum, but this might not be a good time, we might need to wait for some pullback. But there are some Ethereum stocks which we could look into to take advantage of Ethereum upside.

Ethereum is the backbone for a lot of other cryptocurrency ecosystems so it makes a certain amount of sense that Ethereum would be one of the beneficiaries of the sudden interest in crypto again.

Obviously, we have to pay attention to Bitcoin because it does have a knock-on effect over here. So, while that is a very bullish market, it is also at a major resistance barrier simultaneously. So that might be part of what causes Ethereum to pull back, which at this point in time certainly looks like it is a buying opportunity.

In this article, I shall share on the Ethereum stocks which we could buy into.

Ethereum Stocks/ETFs List (as of time of writing)

Below is the list of publicly listed stocks and ETFs who has Ethereum or mined Ethereum, we can see that both the ETFs performed much better than the stocks itself.

But I think we should not rule out the stocks as well. I will share how $HIVE DIGITAL TECHNOLOGIES LTD(HIVE)$ $Riot Blockchain, Inc.(RIOT)$ $Bitcoin Depot Inc.(BTM)$

HIVE Digital (HIVE) On Simple Moving Average (SMA)

Currently Hive is trading near the 50-day MA period, despite the recent decline brought by the fake SEC approval, and fear of inflation rising due to rising CPI, Hive still maintain trading above the 50-day MA period.

I believe investors would look beyond the rising CPI for December, and as Blockchain ETF and Ethereum trading volume pick up, Hive could be in a good position to buy into.

I will be monitoring the price action using RVI and ADX on 12 Jan, to prepare to get an entry price.

Riot Blockchain (RIOT) On Simple Moving Average (SMA)

Similarly, Riot did not fall below its 50-day MA period, despite yesterday decline due to rising CPI, even though we saw more than 3 billion of subscription into the newly approved Spot Blockchain ETF.

Riot would be in a better position because they are also mining Ethereum, though they will be paid in BTC, but they could keep these Ethereum to exchange for a better BTC price later. I foresee Riot to have better upside once the market start to realise that Spot Blockchain ETF could bring to smaller mining stocks.

I will be looking for a position today (12 Jan) to trade as well, as I see this as a good time to prepare for an entry.

Bitcoin Depot Inc. (BTM) on Simple Moving Average (SMA)

This is a less known crypto stocks but recently we could see some nice upside from its trading, and it also does not seem to be affected much by the recent decline due to CPI rising and the earlier fake SEC approval on the Spot Blockchain ETF.

I would be monitoring this stock to prepare for entry as I see potential of more Ethereum upside and BTM would be in a better position for more upside.

Summary

Based on how the crypto market have behaved after the approval of Spot Blockchain ETFs, there are some stocks which might not be affected so much by any decline brought by other factor (like rising CPI).

While we could see Ethereum price having a nice upside, we should remember that Bitcoin price do have some effect on how Ethereum prices move.

Appreciate if you could share your thoughts in the comment section whether you think is it a good time to look at Ethereum stocks as Ethereum continues to see more buyers pushing its price up.

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.