A top pseudonymous crypto analyst and trader, popularly known on Twitter as Kaleo, has predicted that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, would experience a meteoric surge by 2022, judging by the history of the top digital currency and not considering the current devastating situation in the market.
In a new interview first reported by Daily Hodl, Kaleo referenced the performance of Ethereum (ETH), the world’s largest smart contracts platform in 2017, when it dipped from a high around $400 to below $200 within a month. He further stated that the digital currency eventually surged to record the $1440 price all-time high of 2018.
Read Also: Elon Musk Confirms He Owns Ethereum and Dogecoin, Says Both Tesla and SpaceX Own Bitcoin
Kaleo noted:
“Back in 2017, right around a year after the halving, there was a 70% decline, and everything looked dead. ETH was able to come back and go well above its all-time high. We’re right around that same length of the period of time after. Here (June 2021), a similar type of decline and at the support. There are a lot of things lining up there as far as the high timeframe bullishness is concerned.”
Kaleo, in his prediction, puts the price trend of Ethereum (ETH) back in 2017 into consideration. He said the digital token will display a parabolic movement from its high timeframe support straight to a new price all-time high of $18,000, which is a relatively 840% increase from its current price of $1,980.
With the look of things, the top analyst is long-term bullish on Ethereum. However, he said he could still reconsider his stance should the cryptocurrency break below its high timeframe support.
Read Also: Real Vision’s Raoul Pal: Ethereum (ETH) Will Beat Every Other Top Crypto in the Coming Years
Meanwhile, Kaleo predicted about a month ago that he sees Ethereum (ETH) trading above $10,000 by the end of 2021.
He wrote:
“My predictions for the second half of 2021: – BTC enters 6-figure price discovery – ETH breaks above $10,000 – We see one more major alt season, – More institutional / government adoption – More institutional / government FUD.”
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