Accoridng to the latest price prediciotns, it seems that Ethereum could see a massive rally of almost 50%. Check out the latest prediciotns about the price of the digital asset.
Ethereum new price prediction is out
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,723.
An important analyst who successfully rode the crypto market rally this year is outlining a scenario where Ethereum (ETH) could ascend to a level last witnessed in Q2 of 2022.
A strategy session led by a pseudonymous analyst named DonAlt has been shared with over 51,300 YouTube subscribers.
In the session, DonAlt suggests that for the leading smart contract platform, Ethereum, bullish investors must overcome the resistance at $1,940 to create momentum.
DonAlt predicts that if this resistance is surpassed, Ethereum could reach $2,500, a level that was last seen in early May 2022 before the collapse of the market caused by the Terra (LUNA) ecosystem’s implosion.
“$1,940 – that area was resistance. We got rejected by it, but if we come back up there, if you get even close to that, there’s a really, really high chance that we go to $2,500.
That makes the trade quite easy because then you can just market buy basically if it goes up, which is quite nice and makes the whole thing a little bit more tradeable.”
He continued and said the following:
“I’m not hating the down move because it just opens up better trading opportunities…
If we just have a really good candle from here, I think there’s a good chance that we’re just going to break to the upside.”
ETH vs. BTC price
According to the latest reports, the important crypto analyst Benjamin Cowen is warning of a possible Ethereum (ETH) collapse relative to Bitcoin (BTC) as the altcoin markets continue to flash signs of weakness.
Cowen also stated the fact that the ETH/BTC pair could potentially ignite a recovery rally later this year after witnessing a deep retracement.
