Expecting an Increase of at Least 27% in the Altcoin King
Crypto analyst and trader Bluntz, known for predicting Bitcoin‘s bottom in 2018 and the price level at which it would occur, has made a forecast that the altcoin king Ethereum will experience a strong rise in the next few months. Here is the analyst’s bullish comment and expectation for ETH.
An anonymous crypto analyst and trader, Bluntz, shared a chart on his personal account on the social media platform X, indicating that ETH will reach around $2,400 in the next few months. The chart reveals that there is a correction in the short term before this major rally. The analyst emphasizes that this dip before the expected big rally is seen as a buying opportunity to accumulate more ETH.
Regarding this expected pullback, Bluntz said, “If we are lucky enough to see this dip, I will take advantage of the drops below $1,720 in the next few weeks.”
As of the time of writing this article, the altcoin king ETH is trading at $1,879 with a 0.78% decrease in the last 24 hours. The analyst’s expected target of $2,400 for ETH implies an increase of more than 27% in price. Furthermore, if the expected pullback reaches $2,400 from the bottom, this percentage increases to over 40%.
Credible Crypto Highlights $1,700
Another closely followed crypto analyst, Credible Crypto, shares almost the same view about Ethereum. In his latest comment, the analyst said, “It has been a while since my last update on ETH, and looking back now, the chart looks quite clean. It is clear that we are holding above the $1,400 – $1,500 region, which I believe is the bottom. I don’t think ETH will go below $1,500 again, but I expect a pullback in price before the continuation of the uptrend. Many people are expecting a move towards the $2,000 region. I think we will see $1,700 before going there.”
Credible Crypto acknowledges that the likelihood of a pullback in Ethereum will decrease if Bitcoin continues to rise, stating, “If BTC continues to rise from here, it will be harder to see a pullback in ETH, but this is somewhat unlikely under the assumption that we may see a pullback in BTC in the lower time frames soon.”
