Cryptocurrency investor and analyst Scott Melker believes Ethereum will trigger a new boom. The target ATH of the digital currency is said to exceed even the most optimistic expectations of blockchain fans.
Scott Melker: ETH will be this year’s investment hit
IN new movie on the YouTube platform trader announced that ETH has finished its several-month consolidation and is starting the fight for new ATHs.
– As I said recently, I appointed [dla ETH] the $ 3,600 target, which in my opinion, however, is actually somewhat understated. How did I calculate this goal? We have a rising flag here … He said, analyzing the chart.
Melker stressed that he believed Ethereum could soar much higher than its initial goal.
– The goal of this move is $ 3,600, but as I said before, I think the rate could go up much higher and believe that as a result of the network effect and the overall uptrend in the market [ETH] can even reach [poziom] $ 10,000 and that’s until the end of this year… I don’t think it’s crazy. That’s a simple 5x from where we are. We have seen Bitcoin do this repeatedly in one year – added.
ETH / BTC
Influencer is also looking at the chart of the ETH / BTC pair, which it says has managed to end its nearly two-month downtrend.
– We had a permanent downward trend here since February. First a low level (0.29), then a nice rebound that caused the resistance to diminish, then a wick below the previous low where we had a lot of liquidity and breaking an important line. Now we are moving steadily forward. Technically, we should see Ethereum return to the highs of this February traffic, so to around 0.046. We currently only have 0.033 so that would be quite a move but I think it could go much further – he explained.
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