dailyhodl.com
A popular market analyst known for his timely crypto calls is predicting Ethereum (ETH) will suddenly return to its all-time high.
Pseudonymous trader Pentoshi tells his 834,500 followers on the social media platform X that Ethereum may surge more than 23% from its current value and start outperforming against Bitcoin (ETH/BTC).
“ETH likely to continue to outperform BTC in the short term in my opinion. ETH/BTC went up around 20% from the lows while going up in USD. Can’t complain. But every time it goes down 1% many get PTSD. Trends don’t happen overnight. They always start small. See no point in changing bias until proven wrong. So far it’s slowly creeping up.”
He predicts that once ETH flips $4,000 into support on the daily chart, the top altcoin by market cap may soon surge to its all-time high of about $4,800.
“I wonder what happens when ETH trades above the equal highs? Which is also a higher high (and clearly in an uptrend). It’s spent very little time trading above that price, and not much volume done. So there should be little resistance and $4,800 should be overall a quick move in my opinion.”
Ethereum is trading for $3,876 at time of writing, down 3.4% in the last 24 hours.
He also predicts that Bitcoin will soon hit $120,000.
“Higher soon. ETH to $4,800. BTC towards $120,000.”
Bitcoin is trading for $106,182, flat on the day.
Generated Image: Midjourney