A widely followed crypto analyst says that Ethereum (ETH) is gearing up for a massive swing to the upside.
In a new strategy session, pseudonymous crypto trader Pentoshi tells his 863,800 followers on the social media platform X that the second-largest digital asset by volume appears on its way to a $3,300 price tag, though no specific time frame was given.
“ETH. Getting closer for its move towards 28xx, flip that opens a potentially big move into $3,300. But first, let’s get there.”
Source: Pentoshi/X
Earlier this week, the trader predicted that the top altcoin would hit a price tag of $2,800 during its surge, noting that dips during this period would be optimal for buying.
“I wouldn’t sleep on ETH here either. It has had a nice reclaim at a key high-time frame (HTF) level as well as 200-day moving average. Price has been brought back up now, but still four hours out from the close yet. $2,800 is [in my opinion] highly likely in the short term. Dips [are] likely for buying for now.”
Source: Pentoshi/X
Ethereum has yet to reach Pentoshi’s prediction of $2,800 this cycle, though it got close and peaked around $2,700. ETH is trading for $2,577 at time of writing, a 3.5% decrease during the last 24 hours.
Generated Image: Midjourney
