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A prominent crypto analyst has made a bold prediction regarding the future performance of Ethereum, suggesting that it will surpass both Bitcoin and Solana in the upcoming months. Sharing his insights on the social media platform X, the analyst known as @IamCryptoWolf emphasized the bullish outlook for Ethereum, with potential price targets soaring to $12,000. This assessment comes amidst a 6.22% decline in Ethereum’s price over the past week, coupled with a rise in Bitcoin dominance.
Analyst Bullish on Ethereum’s Potential
Ethereum has struggled to keep pace with Bitcoin in terms of price performance during the current market cycle, facing challenges in breaking above the $3,000 mark since July. The lack of significant inflows has hindered Ethereum bulls from pushing the price past key levels, while Bitcoin has surged ahead.
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Bitcoin recently reclaimed $67,000 and is nearing its yearly high of $73,737. Solana has also surged above $170 and could potentially surpass its yearly high of $202.
Despite Ethereum’s underperformance compared to these two major cryptocurrencies, @IamCryptoWolf is optimistic about a reversal in the trend in the latter part of the cycle.
The analyst based his Ethereum forecast on the 3-day candlestick chart, which indicates a rebound off the lower trendline of an ascending triangle. This suggests the potential for an upward movement in Ethereum’s price. As a result, the analyst anticipates a breakout above multiple resistance levels when the momentum shifts in Ethereum’s favor.
If this breakout materializes, @IamCryptoWolf predicts that Ethereum will outperform Bitcoin and Solana in the second half of the bull cycle. He has set a price target range for Ethereum’s surge, with a lower boundary at $8,428 and a high-end target of $12,000. This projected breakout has reignited interest in Ethereum’s potential to lead the altcoin rally phase.

What Lies Ahead for Ethereum?
Currently, Ethereum is trading at $2,472, experiencing a 3% decline in value over the past 24 hours. This performance has left many ETH investors uncertain about the asset’s short-term prospects. According to data from IntoTheBlock, approximately 51.40% of addresses that purchased Ethereum between $2,106.27 and $2,855.96 are currently in a loss position.
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In a separate post on X, @IamCryptoWolf addressed the concerns of ETH investors, reaffirming his bullish stance on Ethereum despite its recent underperformance. The analyst pointed out that Ethereum’s price movement is forming either an inverted head and shoulders or an ascending triangle pattern on the charts, both of which are considered bullish signals in technical analysis.
Featured image created with Dall.E, chart from Tradingview.com