It’s been revealed that Ethereum could surge back to its ATH. Check out the latest reports below.
A popular crypto analyst says that Ethereum (ETH) could pull off an unexpected rally back to its highs around $4,800 when hype over the ETH 2.0 merge builds up.
The pseudonymous analyst known as Kaleo said that ETH has the best chance of any crypto asset to run to all-time highs despite the broader downtrend in the digital asset market.
Kaleo says that as Ethereum’s merge to proof-of-stake approaches, a narrative of the “flippening” will emerge, which is the forecast that ETH’s market cap could surpass that of Bitcoin’s.
“If anything has a chance of making it back to the highs from here it’s ETH. Say BTC runs up to $32,000 or so and ETH/BTC manages to retest the previous all-time high of 0.15 BTC ($3,564) pre merge, you’re looking at an ETH price of $4800.”
He also said this:
“Don’t think we see much past that, but the hype of the flippening narrative will be the only thing you see on the timeline if ETH gets anywhere close to those levels. When we’re there, we’re most likely at peak euphoria, and you should definitely consider taking profit.”
More optimistic predicitons
According to the latest reports an important analyst is predicting a strong rally for leading smart contract platform Ethereum (ETH) and two additional altcoins as crypto markets bounce.
Pseudonymous analyst Altcoin Sherpa said recently that he believes Ethereum has more gas left in its tank despite nearly doubling its value in less than two months.
“ETH: I expect Ethereum to make its way up to $2,200 eventually in the midterm, but we’ll see if it can break past this current support/resistance level ($1,720). The longer this grinds around here, the more bullish I am in the short/midterm. Still dont think this is ‘the bottom’ though.”
At the time of writing, Ethereum is changing hands for $1,717.