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