Will the ethereum the merge affect the price, is there a possibility of further growth?
A closely watched crypto strategist is addressing whether the Ethereum (ETH) consolidation narrative has been priced in.
In a new strategy session, crypto analyst nicknamed DonAlt said that he believes the ETH story is not yet fully unfolded.
“I think in general, it's more likely to go to $2,500 from here than to $1,100… This works really well for me even on a monthly [time frame]. Usually with situations like that, if my goal is $2,000 monthly it just means I think there's a good chance we'll close in that area, but we can go high. than.
I think there is still room to buy ETH. “
DonAlt also said that ETH’s recent correction after hitting $2,000 last month was predictable as Ethereum rallied more than 100% from its 2022 low of under $900. la.
“Looking at the chart, you've got a step forward [and] you're a bit limited. Compared to Bitcoin, this looks absolutely dire… this looks like a normal orderly pullback from the resistance you would expect the pullback to come from. That's why I'm not too worried. "
The crypto strategist is also bullish on Ethereum versus Bitcoin (ETH/BTC). DonAlt told his 422,600 Twitter followers that the pair has virtually recovered all the losses during the height of the crypto bear market.
“ETH Update:
Absolute unit, full retest of the entire bear market (relatively)
Really don't see a good reason why strength that soon disappeared.
Just hit the ETH high until it starts to lose 0.066 [BTC] and target a new high.”
At the time of writing, ETH is valued at $1,573, up 1.38% on the day.
Sep 05, 2022
