The world’s second-largest cryptocurrency, Ethereum, has experienced a correction of about 15% from its all-time high of $4,800.
We see that we have come to the support zone specified in our Ethereum analysis dated November 2. As long as this region is protected, our ETH analysis is valid.
After the correction, the bullish expectation continues in Ethereum, which is traded at $ 4,155.
Former Goldman Sachs executive Raoul Pal said on his Twitter account that Ethereum is in an uptrend.
Now, I don’t expect perfection but with all the other analysis I have done, something like a 100% to 300% rally is highly probable into year end. Nothing is a cert.
After that, its a tougher call but I think it possibly elongates and sees significantly higher prices.
— Raoul Pal (@RaoulGMI) November 17, 2021
Making a name for himself with his cryptocurrency predictions, Pal continued after saying that Ethereum expects an increase of 100% to 300% by the end of the year:
“According to all the analysis I have done, it seems highly likely that there will be a rally between 100% and 300% in ETH by the end of the year.
Prices may be higher than my estimates, but no estimate is definitive.”
Expressing that Ethereum will reach $20,000 by March 2022 in his previous predictions, Pal announced that as of October, he allocated 5% of his portfolio to Bitcoin and 70% to Ethereum.
*Not Investment Advice.