cryptogazette.com
There are all kinds of optimistic crypto prediciton these days, and some of them are targeting Ethereum. Check out the latest one revealed by the online publication the Daily Hodl.
It’s been reported that an important analyst and trader is predicting a massive rally for Ethereum amidst a huge bearish market sentiment.
Credible Crypto said that Ethereum is poised for a strong surge that can potentially go above $3,400.
“All things considered, this makes the most sense to me. I think we see some relief across the board in the coming weeks. Invalidation on a touch of $1,720. ETH”
The sell-off will transform into a bullish reversal
He also said that the sell-off would be a setup for Ethereum and altcoins in general for a bullish reversal.
“ETH and alts make a lower low down after the relief (rally) while BTC puts in a higher low- effectively increasing dominance for the final push up before the reversal.”
He also made sure to point out the fact that the crypto bull market is definitely not over.
“We are in a bull market. This is a correction in the middle of a bull market…” he said.
He also explained that “Every bull run has periods of consolidation on the way up. This is necessary and healthy for continued expansion. Each bull cycle has also been lengthening in my opinion. So its natural for this one to take longer than the last and therefore natural to see longer periods of consolidation.”
Regarding the price of ETH today, at the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,966.66.
Another analyst, Smart Contracter also believes that ETH is “establishing a bullish higher low setup at $2,000, and it is now poised to rally to just below $3,000 for a 40% surge,” as the same online publication mentioned above notes.