A Crypto Analyst Believes Ethereum is Poised for a Rally
A well-known crypto analyst, Pentoshi, predicts that Ethereum (ETH) could experience a significant surge in value. According to the analyst, ETH has entered a new trading range and closing above this range could open the doors for a rally to $2,200, representing a potential increase of more than 21%.
Ethereum Against Bitcoin Corrects to Key Level
Pentoshi also notes that Ethereum against Bitcoin (ETH/BTC) has corrected to a crucial psychological level, indicating that a bounce-back is likely. Despite underperforming BTC, ETH/BTC is entering the demand zone, which suggests potential upward movement.
Bitcoin Remains Bullish as Long as Key Support Holds
Regarding Bitcoin, the analyst believes that as long as BTC stays above the $31,500-$32,500 price range, it will continue its upward trend. He predicts that BTC could even rally beyond $40,000 in the coming weeks.
Pentoshi Updates Outlook on Fetch.AI
The analyst also provides an update on Fetch.AI (FET), an artificial intelligence altcoin. Pentoshi expects FET to consolidate in the mid-range before attempting to reach the previous range high of $0.496.
Hot Take: Ethereum Set for a Potential Rally
According to crypto analyst Pentoshi, Ethereum has entered a new trading range and closing above this range could lead to a rally up to $2,200. Additionally, Pentoshi believes that Ethereum against Bitcoin is showing signs of bouncing back. As for Bitcoin, it remains bullish as long as it stays above key support levels and could potentially surpass $40,000 in the near future. Lastly, Pentoshi provides an update on Fetch.AI, expecting consolidation before a move towards the previous range high. These insights from Pentoshi offer valuable information for crypto traders and investors.
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