A popular market analyst known for his timely crypto calls predicts that Ethereum (ETH) will suddenly return to its all-time high.
Pseudonymous trader Pentoshi tells According to its 834,500 followers on social media platform
“ETH will likely continue to outperform BTC in the near term in my opinion. ETH/BTC rose about 20% from the low, while USD rose. I can’t complain. But every time it drops by 1%, many get PTSD. Trends don’t happen overnight. They always start small. Don’t see the point in changing preconceptions until proven otherwise. So far it is slowly creeping up.”
He predicts that once ETH turns $4,000 into support on the daily chart, the top altcoin by market cap could soon soar to its all-time high of around $4,800.
“I wonder what happens if ETH trades above par highs? That’s also a higher high (and clearly in an uptrend). Very little time was spent trading above that price, and not much volume was done. So there should be little resistance and $4,800 should be a quick move overall in my opinion.”
Ethereum is trading at $3,876 at the time of writing, down 3.4% in the past 24 hours.
He too predicts that Bitcoin will soon reach $120,000.
‘Higher soon. ETH to $4,800. BTC towards $120,000.”
Bitcoin is trading at $106,182 close to the day.
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Credit : dailyhodl.com
