Ethereum Analyst Calls for $20K Target as Multi-Year BTC Base Completes
Pseudonymous trader CrediBULL Crypto is predicting that Ethereum will reach $20,000 or higher. This target was first mentioned three weeks ago when ETH traded near $1,500.
CrediBULL argues that Ethereum has spent years underperforming Bitcoin, but the ETH/BTC chart has finally reached a long-term accumulation zone after about four years of decline. He expects this to be followed by a base-building phase before the next impulsive move higher.
The analyst drew a comparison to April last year when Ethereum was widely written off as finished only to break its all-time high a few months later. CrediBULL points out that the setup looks similar today with the price holding above its last low rather than breaking it, indicating that the broader uptrend is still intact.
Other analysts have shared similar sentiments, such as trader Saiyan who set a base case of $10,000 for the cycle. However, not everyone agrees, with Cheds Trading calling the prediction unrealistic.