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.
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