RATE Group | Top Analyst Gives 3 Reasons Why Ethereum Price Could Surge Over 200%
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Top Analyst Gives 3 Reasons Why Ethereum Price Could Surge Over 200%

01 Feb Top Analyst Gives 3 Reasons Why Ethereum Price Could Surge Over 200%

Posted at 16:54h in Ethereum News by

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Believe it or not, Bitcoin is only 53% below its all-time high near $20,000. Ethereum, on the other hand, hasn’t fared so well. The second-largest cryptocurrency, despite the recent rally in the cryptocurrency markets, is still down by over 80% from its all-time high above $1,400, which it reached during the mania of the previous bull market.

In spite of this harrowing price trend, analysts are starting to become convinced that ETH is ready to surge higher.

Could Ethereum Surge to $800? Analyst Says It's Probable, But This Price Must Break 1

Ethereum Preparing To Burst Higher: Here’s Why

Josh Olszewicz, a crypto asset analyst at markets research firm and data provider Brave New Coin, recently gave a confluence of technical analysis factors as to why the price of Ethereum could soon surge by hundreds of percent:

  • ETH is currently in the midst of forming an Adam & Eve bottom on its weekly chart. Should the bottom play out in full, the price could reach $444 to $555, Olszewicz suggests, noting that is where there exists a confluence of the 1.618 Fibonacci Retracement…

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