After falling to a low of $36,300, bitcoin started to recover some value and now sits at around $38,000. Altcoins are also in a significantly more positive situation today, led by Ethereum’s impressive surge that took ETH to a two-week high above $2,800.
Ethereum price has more gains on the horizon
According to popular crypto researcher Nicholas Merten, investors are currently ignoring Ethereum, the dominant smart contract (ETH) platform.
The DataDash host informs his 507,000 subscribers in a new strategy session that the Ethereum (ETH/BTC) Bitcoin pair is showing signs that it is nowhere near the start of a bear market.
He says that ETH has had this pullback for a while now, and we have been making higher lows and usually continuous higher highs, and this shows that the token is nowhere near the bear market.
“From those lows we saw in late January, we’ve continued to move higher… It looks like exactly a repeat of what we’ve seen the last couple of times during these corrections.”
According to Merten, ETH could break out in March, perhaps turning Bitcoin into a major surge. He says we will see a breakout, a compression, a curl, of price against the point of resistance, where things can really start to jump higher heading into the second half of 2022.
And this is where we have a chance to see the ‘change’. A complete change, with Ethereum emerging as the main player in the market, albeit for a limited time. Ethereum could overtake Bitcoin and turn it upside down.
Merten’s chart appears to show that he expects ETH to hit $10,000 in mid to late 2022.
This post The price of Ethereum (ETH) will reach this level in mid-2022! Right time to go long ETH? – Coinpedia – Fintech & Cryptocurreny News Media
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