Ethereum To Explode by 50% in ‘Best-Case Scenario,’ Predicts Popular Crypto Analyst – But There’s a Catch
A widely followed crypto analyst and trader believes Ethereum (ETH) could rally to levels last witnessed about a year ago. Pseudonymous na crypto analyst na si Kaleo nagsasabi his 586,700 Twitter followers that Ethereum could surge to $2,400, a level last reached in May of 2022 before the Terra (LUNA) ecosystem collapsed. However, Kaleo also says that Ethereum could first dip to $1,600 before rallying by around 50% to his target price. This is still my best-case scenario play for ETH. Dip to $1,600s, then run it back up to approximately $2,400 to retest the pre-LUNA/UST liquidation breakdown level. Pinagmulan: Kaleo / Twitter Meanwhile, fellow crypto strategist Bluntz holds a similar outlook on ETH. According to Bluntz, the second-largest crypto asset by market cap could mahanap support at around the $1,600 area before potentially ending its current corrective move. ETH is getting absolutely mauled right now. Not too sure where I would be looking for longs, probably somewhere between $1,600 – $1,700 and even then I would want to see a very significant reversal candle. Pinagmulan: Bluntz/Twitter The analysts‘ view on Ethereum comes as a prominent analytics firm reveals that ETH’s supply on crypto exchanges is falling. According to Santiment, the percentage of Ethereum on crypto exchanges has lumubog to an eight-year