A Crypto Analyst Predicts Ethereum and Bitcoin Price Movements

A well-known crypto analyst recently shared his insights on the price predictions for Ethereum (ETH) and Bitcoin (BTC), the two leading digital assets in the market. In a recent strategy session, the pseudonymous trader Pentoshi discussed his thoughts on the potential price movements of these cryptocurrencies.

Ethereum Price Predictions:

Pentoshi believes that Ethereum could reach over $3,000 this quarter as the digital asset undergoes a “structural shift.” He mentioned that the current chart looks promising, and he anticipates a resolution in the near future. The analyst suggested that Ethereum could experience a significant upside potential of around 3.2 times its current value, with a downside support level at $2,100.

Additionally, Pentoshi suggested that Ethereum is likely to “melt up” not only against the USD but also against other assets in the market. He presented a chart indicating that ETH could peak above $4,000 by early 2025 and then stabilize around $2,500 by July of the same year. As of the current writing, Ethereum is trading at $2,577, showing a slight increase for the day.

Bitcoin Price Analysis:

When it comes to Bitcoin, Pentoshi stated that the recent price movements of the leading cryptocurrency since July 2023 do not appear bearish. He emphasized that the charts do not indicate a bearish trend and mentioned that individuals who were bearish may have been caught off guard due to short-term fluctuations.

Pentoshi concluded by suggesting that Bitcoin is likely to achieve a new all-time high in the near future, although he did not provide a specific timeframe for this milestone. Currently, Bitcoin is trading at $109,488, showing a 1% increase over the last 24 hours.

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