A widely tracked crypto analyst believes that leading smart contract platform Ethereum (ETH) is gearing up for a massive rally as it begins to flash signs of strength.
Pseudonymous crypto strategist Altcoin Sherpa tells his 180,200 Twitter followers that he sees a huge surge incoming for Ethereum in the coming weeks after ETH took out its resistance at $1,281.
Although the crypto analyst is bullish on top altcoin in the short term, he warns that the rally won’t likely be the start of a fresh bull cycle.
“Here are some levels. I think that we see something like $1,700-$1,900 in the coming weeks. This is NOT a macro reversal, in my opinion, just another bear market rally. Exponential moving averages flipped bullish on the four-hour chart for the first time since end of March.”
At time of writing, Ethereum is swapping hands for $1,356. A move to Altcoin Sherpa’s target marks an upside potential of over 40% for ETH.
Looking at Ethereum against leading digital asset Bitcoin (ETH/BTC),...
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