Popular crypto strategist and trader Nicholas Merten is predicting a parabolic rally for Ethereum in the coming months as the crypto asset continues to flash signs of strength.
In a new strategy session, Merten tells his 469,000 YouTube subscribers that he sees Ethereum (ETH) surging over 400% from its current price of $3,920 as the leading smart contract platform looks poised to follow its 2017 bull run.
“Ethereum’s still holding around its midline here, showing that it’s probably going to – just like it did back here in 2017 – formulate and set the stage here to continue climbing higher towards a much bigger even level. And we’re kind of keeping that target range of potential around $20,000 if we have the expanding cycles, if we really go out into the late part of 2022 to early 2023.
But even if we have a more conservative estimate of $10,000 or $15,000, we’ve clearly set the stage for higher highs here in the sense of the dollar pair.”
Merten is also looking at Ethereum against Bitcoin (ETH/BTC), which he says has more to grow to reach its all-time high of 0.15 BTC, worth $7,752 at time of writing.
“Since the lows, we’ve really made a nice rebound back here (0.055 BTC or $2,844) and look like we’re revisiting back relatively close to the previous relative highs of this cycle, which is again signalling further that you have the cupping price action that scoops back up, and we start to pick up the momentum…
You can see here that we’ve still got ways to go comparative to where we were back here in June of 2017 or here in February of 2018.”