A crypto analyst who rightly called Bitcoin’s (BTC) bottom for 2018 thinks Ethereum (ETH) will soar in the coming months.
The pseudonymous trader Bluntz shares a chart with its 226,500 followers on the social media platform
Bluntz says he sees the dip as an opportunity to accumulate more ETH before it skyrockets.
“If we’re lucky enough to get it, I’d gobble up any dips below $1,720 in the yellow box over the next few weeks.”
ETH is trading at $1,899 at the time of writing.
Fellow trader Credible Crypto shares an almost identical take on Ethereum.
“It’s been a while since my last update on ETH, but the chart is currently clean. You can see we owned the $1,400-$1,500 zone which I believe was my highest time frame buy zone and the BOTTOM. I don’t think you’ll get another shot at less than $1,500 ETH.
That said, I think we’re in for a setback before we can move forward. Many people are looking forward to moving into the $2,000 region. I think we’ll hit $1,700 ETH first before going there.
However, the analyst is acknowledges that it is not as likely that Ethereum will retreat if the price of Bitcoin continues to rise.
“If BTC just keeps rising from here on out, it will be harder to see that pullback on ETH happening – but this is assuming we see a low-time frame pullback on BTC soon.”
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Generated image: Midjourney
