There are all kinds of bullish predictions for the most important coin in the crypto space, and Ethereum is no exception. Check out the latest prediction about the price of the coin below.
It’s been just reported that a popular crypto analyst and trader says Ethereum is setting up for a wild rally. The analyst revealed his new price target for blockchain-based game Axie Infinity.
Pentoshi has recently said that he expects Ethereum (ETH) to go on a massive surge as it threatens to print a new higher high.
“ETH. On [the] verge of price discovery. [The] Next leg up should be one of the wildest yet. Looks great vs BTC as well.”
He explained that ETH has no resistance in sight and could abruptly climb over 15% from its current price.
At the moment of writing this article, ETH is trading in the red and the coin is priced at $4,185.
“Have a feeling a lot of people are underexposed to ETH, myself included, but vacation has me being more conservative. But there is only clear skies ahead. Could see $5,000 rapidly if this breaks out.”
Ethereum in the news
According to the online publication the Daily Hodl, Bloomberg Intelligence’s senior commodity strategist Mike McGlone says that it is only a matter of time before an Ethereum (ETH) exchange-traded fund (ETF) is established.
Check out his tweet below.
Here’s a Bull Market – #Ethereum #Futures Open Interest:
Rapidly rising Ethereum open interest and volume show that a U.S. ETF is only a matter of time, with positive implications for the price and negative for volatility. pic.twitter.com/RqBYV0jajv
— Mike McGlone (@mikemcglone11) October 26, 2021
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Stay tuned for more news about your favorite coins.