A well-known market analyst, Pentoshi, is making waves with his bold prediction for Ethereum (ETH). With a strong track record of timely crypto calls, Pentoshi is confident that Ethereum is poised to make a significant comeback to its all-time high.
In a recent tweet to his large following on X, Pentoshi shared his insights on Ethereum’s potential for a substantial surge. He believes that Ethereum has the potential to outperform Bitcoin in the short term, with a possible increase of more than 23% from its current value. Pentoshi highlights the recent uptrend in the ETH/BTC pair and suggests that Ethereum’s price may continue to climb.
According to Pentoshi, once Ethereum establishes $4,000 as a strong support level on the daily chart, the cryptocurrency could quickly rally towards its previous all-time high of around $4,800. He emphasizes that Ethereum has not spent much time trading above this price point, indicating that there may be little resistance for a swift move towards $4,800.
Currently, Ethereum is trading at $3,876, showing a slight decline of 3.4% over the past 24 hours. Despite this dip, Pentoshi remains bullish on Ethereum’s future performance and sees a clear path to reaching new heights.
In addition to his Ethereum prediction, Pentoshi also foresees a bright future for Bitcoin, projecting a price target of $120,000 in the near term. With Bitcoin currently trading at $106,182, Pentoshi’s optimistic outlook suggests a significant upside potential for the leading cryptocurrency.
As investors and traders closely monitor these price movements, Pentoshi’s insights provide valuable guidance for navigating the dynamic crypto market. By staying informed and following expert analysis, individuals can make informed decisions to capitalize on potential opportunities in the cryptocurrency space.
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(Image Source: Midjourney)