A prominent analyst indicates that the 2022 crypto bull market ended at the right time, suggesting that Ethereum (ETH) 
$3,592 could rise against Bitcoin (BTC) 
$97,285 and the US dollar. In a statement made to 826,200 followers on social media platform X, the analyst noted that the ETH/BTC pair has shown a positive trend after maintaining support at 0.30 BTC.
Target Price for ETH/BTC
According to the crypto strategist, it is projected that the ETH/BTC pair could decline to 0.4597 BTC. The analyst emphasized the potential for reaching the identified targets, referring to the situation as “a very promising start.”
The analyst also pointed out that Ethereum has the potential to rise against the US dollar, suggesting that ETH could exceed $4,000. This target aligns with the ETH/BTC goal mentioned earlier.
Impact of ETH-Based ETFs
The analyst mentioned that hundreds of millions of dollars invested in Ethereum-based exchange-traded funds (ETFs) would contribute to ETH’s rise. He stated, “Investment consistency for ETH is increasing, and we could see trading volumes of $250-500 million in the coming days.”
Additionally, the analyst is closely monitoring the performance of Render (RENDER), a GPU rendering network. RENDER has entered an upward trend after bouncing back from a significant resistance level of $8.10. Its current value is $8.61, having increased by over 8% in the last day.
The analyst believes that the rise of ETH will be supported by investments in ETH-based ETFs, which are becoming more consistent. He also pointed out that Render demonstrates a structurally strong outlook in its charts.
