A Crypto Strategist Predicts a 141% Price Increase for Metis (METIS)
A popular crypto strategist, known as Pentoshi, has shared his belief that an Ethereum scaling solution called Metis (METIS) is poised to experience significant price growth. According to Pentoshi, METIS could potentially increase in value by more than 141% from its current price.
Pentoshi suggests that a good entry point for METIS would be between $48 and $56. He also mentions that the narrative surrounding the altcoin is gaining momentum, with several positive upcoming fundamentals.
Based on Pentoshi’s chart analysis, he predicts that METIS could continue its upward trend and reach the next major supply area around $175.
At the time of writing, METIS is trading at $72.41, reflecting a 25.4% increase in the past 24 hours.
ETH ETF Approval Could Boost Ethereum’s Value
Pentoshi has previously made predictions about Ethereum’s price movement. He believes that if Bitcoin traded funds (ETFs) are approved, it could pave the way for the approval of Ethereum ETFs as well.
Several asset management firms, including BlackRock, Fidelity, and Hashdex, have filed applications for spot-based Ethereum ETFs with the U.S. Securities and Exchange Commission (SEC).
If ETH ETFs are approved, Pentoshi expects bullish momentum to drive Ethereum’s price above the $3,400 level as investors anticipate this significant event.
Currently, Ethereum is trading at $2,206, experiencing a 3.2% decrease in the past 24 hours.
Hot Take: Metis (METIS) Set to Soar with Growing Momentum
Pentoshi’s prediction about the potential price increase of Metis (METIS) highlights the growing interest in Ethereum scaling solutions. With the altcoin currently trading at $72.41 and showing positive momentum, there is a possibility that it could reach $175 in the near future.
Additionally, Pentoshi’s insights into the approval of ETH ETFs demonstrate the potential impact of regulatory decisions on cryptocurrency markets. If Ethereum ETFs are approved, it could further boost Ethereum’s value and attract more investors to the market.
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