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Ethereum continues its journey toward greatness as a seasoned trader issues a remarkable prophecy. With unwavering conviction, the trader predicts Ethereum will rally 45% in the near future, beginning its road to glory in the crypto world. Investors eagerly anticipate the potential rewards of this predicted surge.
Expert Forecasts Ethereum’s Potential Breakout an All-Time High
According to a market expert who predicted the recent crypto market surge, Ethereum (ETH) could reach a level similar to what it did in the second quarter of 2022. DonAlt explains to his 51,300 YouTube subscribers that for Ethereum to gain momentum, it has to surpass the resistance level of $1,940, which is crucial for its growth.
DonAlt thinks the asset could hit a new all-time high if it breaks through the resistance. In addition, he said Ethereum needs to keep its momentum going to grow.
If Ethereum can break through the resistance level and maintain its current momentum, DonAlt believes it will have the potential to reach new highs. He is also of the opinion that it needs a sustained increase in momentum to continue growing.
DonAlt says if Ethereum gets over $1,940, it can reach $2,500. A market downturn caused by the collapse of the Terra (LUNA) ecosystem caused this price level to be observed in early May 2022.
Afterward, Ethereum’s price started rising steadily, currently at around $2,100. Analysts think Ethereum will reach $2,500 in the short term if current market conditions hold.
$1,940 – that area was resistance. We got rejected by it, but if we come back up there, if you get even close to that, there’s a really, really high chance that we go to $2,500.
That makes the trade quite easy because then you can just market buy basically if it goes up, which is quite nice and makes the whole thing a little bit more tradeable.
I’m not hating the down move because it just opens up better trading opportunities…
If we just have a really good candle from here, I think there’s a good chance that we’re just going to break to the upside.
DonAlt Outlines the Key Milestones for Ethereum’s Anticipated Price Surge
Despite DonAlt’s positive outlook for Ethereum (ETH), he thinks significant price increases are unlikely until two conditions are met. The first thing Ethereum needs to do is recover and pass $1,940. Before Ethereum can rally substantially, Bitcoin (BTC) needs to reach its lowest point.
Ethereum’s current price is highly correlated to Bitcoin’s price, so until Bitcoin reaches its lowest point and creates a bottom for the market, Ethereum will not be able to rally significantly. Furthermore, Ethereum needs to break through its current resistance level of $1,940 to indicate that it has the potential to rally.
Ethereum needs to break this level and hold it for a while to start rallying. Only when these conditions are met will Ethereum start to rally, according to DonAlt.
Ethereum is currently at $1,724, up more than 4.05% from yesterday.
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