Analyst DonAlt, known for his successful predictions, believes that the leading altcoin Ethereum (ETH) may experience a major rise to levels it has not seen in a long time. This prediction, which excited the Ethereum community, did not escape the attention of investors.
According to DonAlt’s analysis, a breakout of a key resistance level in Ethereum could trigger an upside move of up to 40% in the popular altcoin. This bullish move could see Ethereum return to levels last seen nearly two years ago.
According to the analyst, a breakout in the ETH/USD pair could also lead to a rise in the Ethereum and Bitcoin (ETH/BTC) trading pair.
“I follow ETH/USD on a weekly basis and if it rises above $2,500-2,550, I think ETH will start to squeeze even within the Bitcoin trading pair.”NEWS CONTINUES BELOW
The analyst suggests that once Ethereum breaks resistance near $2,500, it could head towards $3,500, a price area last seen in April 2022. This shows that the leading altcoin has significant potential for value growth.
“This is a pretty big move. This would basically be a 40% move. It has 40% potential in terms of ETH/USD and 27% in terms of ETH/BTC, so you could argue that you actually have a bit more potential in ETH/USD if this breakout occurs. “It is a difficult and risky transaction, but I think it is not the worst transaction in the world.”NEWS CONTINUES BELOW
You can follow the current price movement here.