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Ethereum Is Trading Below $4,000 – ETH Is Set To Go Parabolic Soon

The crypto market looks great, with the most important coins going straight to the moon.

Bitcoin was able to smash through $52k once again, and ETH was surpassing $4k a few days ago. Altcoins are rallying as well, and the altcoin rally is under Solana’s lead.

The digital asset was able to surge by more than 30% over the past 24 hours, and things are looking great in this direction.

There are all kinds of optimistic predictions about the prices of digital assets these days, and ETH is not an exception.

ETH latest prediciton

It’s been revealed that the crypto strategist and trader Nicholas Merten is predicting a parabolic rally for Ethereum in the coming months.

He recently said that he sees Ethereum (ETH) surging over 400% from its current price.

“Ethereum’s still holding around its midline here, showing that it’s probably going to – just like it did back here in 2017 – formulate and set the stage here to continue climbing higher towards a much bigger even level.”

He continued and said:

“And we’re kind of keeping that target range of potential around $20,000 if we have the expanding cycles, if we really go out into the late part of 2022 to early 2023. But even if we have a more conservative estimate of $10,000 or $15,000, we’ve clearly set the stage for higher highs here in the sense of the dollar pair.”

Merten has bee also been analyzing Ethereum against Bitcoin (ETH/BTC), which he says has more to grow to reach its all-time high of 0.15 BTC.

At the moment of writing this article, ETH is trading in the red, and the digital asset is priced at $3,892.28.

Not too long ago, we were noting that The Street online publication notes that while Bitcoin continues to struggle with the $50,000 level, Ethereum is trying to break out.

ETH is set up for a potential monthly-up rotation in September.

“If we can get an upward break of the recent range, it could put the 78.6% retracement on the table near $3,800. Above that and $4,000-plus is in play.”

Stay tuned for more news.

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