There are new crypto predictions out, and despite the massive market volatility, most of them are optimistic these days. Check out the latest Ethereum prediction below.
New ETH prediction
A popular crypto strategist says that a breakout rally is in sight for Ethereum (ETH).
The crypto analyst known in the industry as Kaleo said not too long ago that Ethereum has broken out of its diagonal resistance against Bitcoin (ETH/BTC), and the pair looks primed for a new leg up.
At time of writing, the ETH/BTC pair is trading for 0.073 BTC ($1,675).
Kaleo is also bullish on BNB, the utility token of crypto exchange giant Binance. According to the crypto strategist, BNB is looking pretty strong as it prints a fresh all-time high against Bitcoin.
“BNB/BTC is an actual tank. Continuing higher in price discovery today.”
Looking at Bitcoin itself, Kaleo predicted that we would see a brief pullback for BTC to around $22,000 before the king crypto rallies to his target at $28,000.
“Gonna happen but you wouldn’t believe it.”
ETH could help with BTC’s dominance level
Ethereum has been in the news a lot lately. Recently, we revealed that the popular crypto analyst Benjamin Cowen addressed how Ethereum (ETH) could help Bitcoin (BTC) raise its dominance level.
In a new video update, he explained how BTC’s dominance level, or the total percentage of the crypto market cap that is made up of Bitcoin, nosedived at the end of 2020 from about 73% to 41.18% at time of writing.
Cowen said that Ethereum’s upcoming switch from a proof-of-work network to a proof-of-stake one could have investors reallocating their funds to the leading digital asset. This is suggesting that ETH’s upgrade could be a sell-on-news event. Check out our previous article for more news.
Regarding ETH’s price today, the coin is trading in the green, and it’s priced at $1,770. Stay tuned for more news.