Analysts: Ethereum (ETH) Could Soar Up to $1,300

Analysts Ethereum (ETH) Could Soar up to $1,300

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Trader and analyst Josh Rager shared his forecast for Ethereum on Twitter. He suggested that cryptocurrency will begin to show positive dynamics if it manages to gain a foothold above the $306 mark.

The cryptocurrency exchange rate can hardly be called stable and for more than a year, it has not risen above $300. That is why the Rager believes that Ethereum is in a favorable position in terms of investment.

A similar situation in 2017

In June 2017, the Ethereum price settled at around $300, but this was only the beginning. For a while, cryptocurrency showed a downward trend, but after a few months, a real breakthrough occurred.

November was an exceptional month for the second cryptocurrency by market cap. It was then that the rapid growth of the exchange rate began, which reached a record high by January 2017.

The threshold of $306

According to analyst Josh Rager, the current market situation resembles 2017, when the price of Ethereum soared to $1,300. It should be noted that in that month, Bitcoin also updated its best performance and reached $20,000. Since then, BTC has fallen in price more than twice – to $9.269.

The Rager believes that Ethereum will only improve when Bitcoin strengthens and breaks the $10,000 barrier. One way or another, Ethereum must go its own way. The trader emphasized that the growth of cryptocurrency soon is possible only if its exchange rate approaches $306.

Long accumulation phase

Trader Crypto Michaël also shared his forecast. He conducted detailed analytics in his video and described the position of Ethereum as a “phase of accumulation.” Moreover, Crypto Michaël believes that this phase began as early as September 2018.

Nevertheless, the expert notes the presence of signs that may indicate imminent changes in the market. An example is the strategy of hedge funds that have been actively buying up Bitcoin and Ethereum recently.

Thus, investors may be interested in a situation that has much in common with 2017. Then there was a serious leap in terms of investment – an asset cost $300, but then in just a few months its price rose almost fivefold.