The cryptocurrency market has declined and lost value in an atmosphere of uncertainty ahead of the Fed's interest rate decision. However, analysts say that the bull run has just begun and that further increases are possible. A famous analyst known for his accurate predictions in the crypto world predicts that Ethereum will quickly reach an all-time high. The same analyst also sets higher targets for Bitcoin.
“Ethereum to outperform leading cryptocurrency!”$ETH
The crypto market is preparing to climb higher in the new year. However, which tokens will perform better is of great importance. The famous analyst, who uses the pseudonym Pentoshi, claims that Ethereum will outperform by showing a 23% increase from its current price level. He also predicts that Ethereum will perform stronger against Bitcoin. Pentoshi makes the following statement on this subject:
"I think ETH will continue to outperform BTC in the short term. ETH/BTC is up about 20% as USD is rising. That's a pretty positive development for me. But when prices drop by just 1%, some people panic. Trends don't happen overnight; everything starts with small steps. It's pointless to change my current biases until they're proven wrong. So far, it's slowly rising."
According to the analyst, when Ethereum (ETH) sets $4,000 as the support level on the daily chart, it will enter a period where ETH, the largest altcoin by market cap, can rapidly climb towards $4,800. Pentoshi adds the following on this subject:
“I am really curious to see what happens when ETH starts trading higher. This would indicate a higher high and the start of a clear uptrend. There hasn’t been much trading above this price level for a long time and there hasn’t been much volume at this level. So the resistance should be pretty weak and I think a breakout of $4,800 could happen very quickly for ETH.”
Ethereum is currently trading at $3,885, down 1.16% at the time of writing, but the leading altcoin has gained 2.2% over the past 7 days.
$120,000 Target for Bitcoin!$BTC
Pentoshi makes ambitious predictions not only about Ethereum but also about Bitcoin. The analyst predicts that Bitcoin will soon reach $120,000. Pentoshi makes an assessment as follows: "ETH will move towards $4,800, while BTC will move towards $120,000." Bitcoin is currently trading at $104,500 with a loss of about 2%, but has gained over 4% on a weekly basis.
These predictions, along with the expectation of a positive price movement for Ethereum and Bitcoin, indicate an exciting period for investors.
