Ethereum has been the star of the crypto space these days, after the second-largest coin by market cap hit a new ATH.
As the online publication, the Daily Hodl notes, ETH has officially shattered its all-time high, breaking through the $1,431 mark.
The second-largest cryptocurrency’s previous all-time high was set back in January of 2018. At the moment of writing this article, ETH is trading in the green, and the king coin is priced at $1,414.17.
New ETH and altcoin predictions arise
It’s been just reported by the same online publication that crypto investor Raoul Pal says he expects ETH to lead the crypto pack in the near term. He also said that there’s a renewed altcoin season on the horizon.
At this point and for a while, ETH leads, Alts season follows and bitcoin still explodes higher. Everyone wins. Enjoy and take on board the FUD with a open mind but remember, in an exponential bull market everyone wants to spook you out of your trade. It’s really not easy.
— Raoul Pal (@RaoulGMI) January 25, 2021
The popular pseudonymous analyst Cred said that he believes ETH is at the start of a major move to the upside, with the DeFi market to follow.
He’s now watching five altcoins in particular.
“If requirements are met, I’d expect ETH to outperform in the first leg during price discovery but for DeFi to remain bid,” he said as cited by the Daily Hodl.
He continued and pointed out that “The simplest means of acting on this would be via ETH/USD longs. Other alts likely higher beta. Eyes on: Uni, Sushi, Link, Dot, Aave.”
The crucial level for Ethereum
Not too long ago, it’s been reported that trader Michaël van de Poppe said that relatively low levels of volume are indicating that Ethereum is now set to encounter a move to the downside.
Stay tuned for the latest ETH and altcoin news.