The post Ethereum ‘Near Guaranteed’ To Rally by Over 180% Against Bitcoin, According to Analyst – Here Are His Targets appeared on BitcoinEthereumNews.com.

A widely followed crypto trader is expressing bullish sentiment on Ethereum (ETH) relative to Bitcoin (BTC). In a new strategy session, pseudonymous crypto analyst Altcoin Sherpa tells his 217,800 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “still holding up pretty strong.” According to Sherpa, the ETH/BTC pair is currently in a “fine spot” for long opportunities amid the potential approval of spot Ethereum exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC). “ETH to all-time highs is near guaranteed before the end of the year.” Source: Altcoin Sherpa/X Ethereum, which is trading at 0.05457 BTC ($3,142) at time of writing, would need to rally by around 187% to reach the all-time high of 0.15636 BTC recorded in November of 2021. Moving on to the crypto king, Sherpa says, “Price still in an overall high time-frame range between $73,000 – $56,000 but things of course look bearish in the short term.” Source: Altcoin Sherpa/X Sherpa concludes his analyst by says that a bullish phase could kick off around three months from now for altcoins. “Altcoins are continuing to sell off, I still don’t see any end in sight for that. I never understood why people thought we’d get some sort of alt season in the summer. I could maybe see it for ETH ETF bidding but you generally need a healthy BTC for this to happen. Still possible I guess but I’m still a bit pessimistic. I think it’s likely we continue to chop and chill for the next few months and then have a very nice Q4.” Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix &nbsp Disclaimer: Opinions expressed at…

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Filed under: News - @ July 5, 2024 9:22 am