Ethereum Poised for Major Rally, According to Widely Followed Crypto Strategist’s Price Targets
A highly regarded cryptocurrency analyst suggests that Ethereum (ETH) is currently preparing for a substantial upward price movement.
During a new strategic discussion, the pseudonymous crypto trader Pentoshi conveyed to his 863,800 followers on the X social media platform that Ethereum, which ranks as the second-largest digital asset by trading volume, seems to be on a path toward a $3,300 valuation, though no specific timeline was offered.
Key Price Levels: Targeting $2,8xx and Then $3,300
The analyst outlined a potential progression for Ethereum, indicating, “ETH. Getting closer to its move towards 28xx, flip that opens a potentially big move into $3,300. But first, let’s get there.”
This suggests an initial target zone in the 2,800-2,899 range, with a successful conversion of this area into support potentially triggering a more significant rally toward the $3,300 mark.
Previous Bullish Call and Rationale for Buying Dips
Earlier in the week, the trader had predicted that the leading altcoin would achieve a price of $2,800 during its ascent, noting that any pullbacks during this period would represent favorable buying opportunities.
Pentoshi based this earlier bullishness on Ethereum’s ‘nice reclaim at a key high-time frame (HTF) level as well as 200-day moving average.’
Current Market Status and Proximity to Predictions
While Ethereum has not yet reached Pentoshi’s $2,800 target in the current cycle, it did approach this valuation, peaking near $2,700.
As of the time of writing, ETH is trading at $2,577, a decrease of 3.5% over the last 24 hours.
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