Multiple Ethereum analysts believe that the second-largest cryptocurrency will pump by 100% in the following months so let’s find out more in the latest ETH news.
There are several ethereum analysts that predicted big gains for Ethereum and especially the analyst Manu Naik pointed out that the ETH/USD pair 1-day chart was in a falling wedge. The pair breaks upside about 68 percent of the time according to Naik and $128 is now the lower limit. The falling wedge is still a possibility and we are still at the lower limit. This means that Naik’s prediction of a potential upward movement to $240 by mid-January could still be in play.
The analyst Scott Melker tweeted a few days ago that he believes Ether will look better than bitcoin does at the moment. He continued to say that the ETH/BTC charts outlining the ETH range trading against BTC see a rebounding movement upwards off significant support putting a great position that will prepare it higher. Another analyst DonAlt suggested that the Ether price could even ‘’play the range’’ until 2021 bouncing between the key support and resistance levels of $130 and $268.
What is even more interesting is that the traders cited a post from February in 2019 when he bought ethereum at just over $100 with a target of $200 so they urge to do that again. As per the recent reports, if Ethereum manages to move upwards, it could finally kick off the expected alt-season that was unable to be materialized in 2019. In the past week, Ethereum fell almost 20% and it appears that these losses will extend even further. According to ViewBase, which measures the massive falls of cryptocurrencies, a huge amount of Ethereum is being sent to exchanges throughout the world. There is worrying speculation that there is a single whale or even Vitalik Buterin himself can be selling his amounts.
Also, the latest hard fork comes only a few weeks after the Istanbul hard fork with some new features and upgrades regarding gas costs, Denial-of-Service attack resilience, and interoperability. However, it seems that the Ethereum developers made an unexpected mistake and didn’t consider one of the most important features which are the Ice Age or the Difficulty Bomb.
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