Crypto Analyst Predicts Ethereum (ETH) Has Reached Its Bottom, Highlights 'Fantastic' Investment Opportunity

Prominent Crypto Expert Suggests Ethereum (ETH) Has Potentially Reached Its Lowest Point in Current Bear Market.

Prominent crypto expert, Credible Crypto, shared with his 345,900 followers on platform X that he believes Ethereum found its price base during the recent market dip. He highlighted that Ethereum touched the high timeframe zone which he had earlier identified as an excellent buying opportunity in May. His perspective remains unchanged, and he feels confident in this analysis especially if his predictions regarding Bitcoin (BTC) also hold true. Credible Crypto anticipates Ethereum's breakout from its current ascending triangle pattern, provided it maintains support around the $1,440 mark. He states, “If my BTC predictions hold, then the same likely applies for ETH, with the recent green zone potentially marking our lowest point.

Source: Credible Crypto/X

Crypto expert, Credible Crypto, has provided insights suggesting that Ethereum might hover between $1,600 and $2,000 for the remainder of this year, setting the stage for a significant uptrend in early 2024 as seen on his chart analysis. Contrary to popular opinions, he believes that Bitcoin (BTC) is on the brink of achieving a record peak before the year's end. Drawing parallels, he anticipates Ethereum will emulate Bitcoin's trajectory.

Credible Crypto clarifies, "Though I have a short-term bearish outlook for ETH/BTC—as I do for most altcoin-to-BTC pairs—I remain strongly optimistic about ETH in its USD pairing. I project Ethereum will be among the first altcoins to resonate with Bitcoin's positive price movement."

Currently, Ethereum is trading at $1,630.

Aug 23, 2023

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