The crypto analyst, who accurately predicted the 2018 bear market of Bitcoin (BTC), made an up-to-date forecast of the price of Ethereum (ETH).
The analyst, known by the alias Smart Contracter, told 211,300 Twitter followers that he was accumulating Ethereum when it fell below the $1,300 level. announced.
“I bought some ETH. At the bottom, I think. It’s time to retreat, relax, and wait.”
At the time of writing, the leading altcoin Ethereum is trading at $1,364, up over 2% on the day. Smart Contracter has been keeping a close eye on the price action of ETH since the beginning of August, when Ethereum was trading around $1,700. At that time, the crypto analyst had identified a path to the $1,200 level for Ethereum. So far, the analyst’s prediction has been correct, both in terms of time and price action. The analyst used the following statements at that time:
“If Ethereum hits a new high here over the weekend, it creates a five-wave action completed daily (on the chart) and a potential top in the new week when old markets open.
‘If’ it is confirmed by a new top (formation), some good long-term buying opportunities could be presented next month around $1,270.”
With the popular altcoin Ethereum reaching its downside target, the analyst predicts that ETH is now poised for a rally above $2,000.
“We have been planning this step by step since the peak of August.”
Koinfinans.com As we reported, another crypto strategist, Credible, is among those waiting for Ethereum price to rise as he expects the leading smart contract platform to continue its rally.
“[Ethereum için] new local bottoms. Now that the downside target is met, I don’t want to see more than 5-10% downside from current levels.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.