Krutika Adani
Bankless co-founder Ryan Sean Adams sees Ethereum’s justified valuation at $10k in today’s market.
He called Ethereum the most undervalued asset in the market indicating that the current market presents a buying opportunity for investors.
He called Ethereum a triple point asset, which means a consumable asset, that can act as a store of value, and also has a capital value associated with it.
Ethereum’s chart has shown the formation of an inverse head and shoulder pattern which is considered a trend reversal pattern. In the current markets, the formation of this pattern could prove to be highly bullish for Ethereum.
Ethereum needs to decisively cross $4000 before it can begin its rally toward the $10k target. At press time, Ethereum was above $2600.