One of the most popular crypto traders outlines a bullish scenario that would send Ethereum (ETH), the leading altcoin, to five digits by 2025.
Guy Turner of CoinBureau tells his 2,58 million YouTube followers in a video that ETH is likely to break its previous high and enter a phase explosive this cycle.
If there are no black swan events to spoil our celebration, then we can assume that ETH’s previous high, which was around $4.878 in November 2021, will be surpassed.
The real question is where it will go from here. It can be hard to envision a price increase that is parabolic because ETH spent a long time in purgatory and slipping against BTC.
Once the high has been broken, however, historical supply and resistance levels will no longer exist. “Prices will be discovered, and ETH may teleport to the moon.”
Analysts and crypto traders refer to price discovery when a coin is trading at levels that have never been seen or in a very long time.
The analyst then uses Fibonacci levels as a way to predict that ETH could surge up to $7300 in a base case. This is the 1.618 Fibonacci on his chart.
In technical analysis, traders use Fibonacci extension to calculate profit targets and pullbacks in prices. These extensions are based upon Fibonacci numbers.
He says that if Bitcoin’s current price nearly doubles next year to $200,000, then ETH may surge higher still, up to $14,560.
“ETH is only now reaching the Fibonacci level of 0.786. We think that doubling the price of ETH at the 1.618-level will be a more realistic upper limit for what might happen in 2025. We think that this 1.618-level is around $7,300, which is again a good target. Double this and we get $14,600.
This is a very high order for an asset which has so drastically underperformed BTC. It’s the most bullish scenario we can seriously consider in 2025. The orthodoxy says that if BTC reaches $200,000 by 2025, profits would be redirected to ETH. BTC is at such high levels, there could be sufficient capital for ETH to rise above $14,000. .”
Ethereum was trading at $3,686 as of the time this article is written, which represents a 5.5% drop in 24 hours. Bitcoin, meanwhile, is currently trading at $101,143, down by 4.6% for the day.
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Guy Turner’s post Ethereum to ‘teleport moonward’ once ETH breaks above all-time high, says Guy Turner: Here are His targets may be updated as new information becomes available.
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