Crypto investors should take note of Ethereum (ETH) as its price may be gearing up for a significant rally against Bitcoin. A crypto analyst is predicting a potential 180% surge in the ETH/BTC trading pair, suggesting that now might be the right time for investors to consider converting their BTC holdings to Ethereum.
Time To Swap Bitcoin For Ethereum
The price of Ethereum has been on a significant bearish trend in recent months, leading some analysts to label it as “the ultimate shitshow of this cycle.” Despite the introduction of Spot Ethereum Exchange Traded Funds (ETFs), the market sentiment for ETH remains low, and its price continues to fluctuate.
A crypto analyst known as ‘CryptoBullet’ has declared that investors are entering the final stage of the ETH/BTC bear market. He predicts a 180% surge for ETH/BTC, signaling that it may be time for investors to start swapping their Bitcoin for Ethereum to take advantage of the anticipated price rebound.
On September 12, CryptoBullet discussed his observations about the ETH/BTC trading pair on the monthly chart. He highlighted a recurring trend in ETH/BTC price movements over the years, characterized by a testing phase, breakdown, accumulation period, and eventual pump to new highs. The analyst forecasts that the price of Ethereum relative to Bitcoin could reach $0.0885 or $0.11 by 2025, translating to a value of around $5,109 or $6,351 per Ethereum.
New Bullish Targets Unveiled For ETH
‘TopGcrypto,’ another crypto analyst, has predicted that Ethereum could see a price increase to new levels before the end of the year. He noted that Ethereum is experiencing strong price movements and nearing a key resistance trend line.
TopGcrypto pointed out that the critical resistance level for Ethereum is around $3,115. If Ethereum’s price can surpass this level, it could present a good opportunity for investors to consider going long on the cryptocurrency. A breakout could potentially drive the price of Ethereum towards new targets of $2,560, $2780, and $3,115.
Featured image created with Dall.E, chart from Tradingview.com