Crypto Analysts Predict 125% Gain for Bitcoin and 230% Gain for Ethereum
Crypto analysts at Coinpedia have made predictions for four major cryptocurrencies in this bull market. Bitcoin's weekly chart shows a rising channel, with the first test at its previous high near $125,000. A breakout above this level increases the chances for BTC to rally to the channel's upper boundary near $190,000. This would represent a 2.26x multiplier or a 125.72% gain.
The same rising channel pattern is observed in Ethereum's monthly chart, which dates back five years. If ETH breaks through the former high near $5,000, its next projected target on the channel is $8,800. At the current price of $2,665, that would represent a 230.21% gain or a 3.30x multiplier.
XRP's monthly chart shows an ascending triangle set up with upper resistance near $3.66. A monthly close above this level could trigger a rally to the pattern's upper ceiling near $31.87. At the current price of $1.47, XRP will need to experience a 2,068.03% gain or a 21.68x on investment at today's prices.
Solana's monthly chart shows a cup and handle set up with a neckline near $295. A monthly close above this level would confirm the breakout, and a surge to a projected target of $2,744. At the current price of $118.08, SOL will have multiplied by 23.25x.
Coinpedia notes that Q4 is crypto's best quarter, with previous history showing strong performance in this period. The analysts warn that all these predictions rely on breakouts above noted prices. For Bitcoin, the next resistance lies at September's high of $87,363 and thereafter the $90,000 psychology target.