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There are all kinds of bullish predictions about the price of cryptos these days, and Ethereum is also included.
At the moment of writing this article, after BTC was able to smash through $55k, ETH is also trading in the green, and the digital asset is priced at $3,600.15.
ETH could rally more than 700%
Crypto investor and analyst Justin Bennett is plotting a bullish “what if” scenario that sees Ethereum exploding more than 700% in the coming months.
The analyst shared a chart with his followers that depicts ETH trading in a huge ascending channel that began in March of 2020.
“$ETH, what if?” Check out the chart here.
The online publication, the Daily Hodl, notes that based on Bennett’s chart, ETH bounced off the bottom near the $2700 level and is now grinding its way up to the channel top.
“Should the idea work out, Ethereum could be trading around the $30,000 level by about May of 2022 when it trades at the top of Bennett’s ascending channel.”
This would represent a more than 700% gain from ETH’s current price.
The analyst says that the altcoin market in general could be showing off some amazing opportunities for the future.
He says that as long as Bitcoin can maintain its bullish momentum, altcoins like VeChain (VET) could be set for another leg up.
“$VET has had two false breaks since September. However, it reclaimed the April trend line on Tuesday,” he said.
He continued and pointed out the following:
“As long as $BTC continues to behave, this is the time to load up on altcoins that are lagging, IMO.”
Closing words
There are all kinds of optimistic predictions about the price of Bitcoin these days.
The king coin’s price is heading straight to the moon, according to more analysts after more periods of correction.
The other day, we were revealing that a popular one says that Bitcoin will reach $100k in the next few months.