According to the latest predictions about the price of Ethereum, it seems like the coin is gearing up for a surge of over 35%. Check out the latest reports about this below.
ETH new price prediction is out
According to a well-known crypto analyst, Ethereum is poised for a significant surge after completing an extended period of consolidation.
The analyst, who goes by the name Pentoshi on social media platform X and has a following of 742,000, predicts that Ethereum will reach the $3,500 level.
This is the highest level of a range in which he expects ETH to trade.
“ETH.
Went to the mid-range of the new range we are in.
Year-long consolidation into mid.
Expect the higher range sometime Q1 early Q2.”
As of writing this, the trading value of ETH stands at $2,511. Pentoshi, a well-known analyst, is keeping a close watch on SOL, which is a major competitor of ETH.
Pentoshi believes that SOL needs to consolidate for a while before it can make any significant progress, as it witnessed a significant surge in the latter part of 2023.
The analyst predicts that the $70 level could act as a potential support for Solana.
“SOL.
Think this is just going to take time to play out. So far following squiggly [line]. While there is support just below here where it bounced from, think there has to be at least 30 days of consolidation somewhere. Even if we don’t see that $70 area.”
SOL is currently trading at a value of $95.49. According to Pentoshi, the approval of spot BTC exchange-traded funds (ETFs) has been a significant win for the crypto market.
“Day one volume record already broken on the BTC ETF. What [does it] mean?
And what does it mean for other digital currencies?
Will give a few hints:
1. Others in line for ETF
2. This is a great advertisement for the space. A ton of new eyes and entrants will come as a result
3. You aren’t bullish enough long term.”
Stay tuned for more crypto price predictions.