Ethereum Predicted to Hit $20K as Multi-Year BTC Base Completes

Pseudonymous trader CrediBULL Crypto is predicting that Ethereum will reach $20,000 or higher. He believes that Ethereum has finished a multi-year base against Bitcoin and is about to enter its first bull run since 2017.

CrediBULL built his case around long-term chart structures on both the ETH/USD and ETH/BTC pairs. According to him, Ethereum has spent years underperforming Bitcoin, leaving market sentiment at levels similar to previous cycle lows.

The trader noted that the ETH/BTC chart has finally reached what he considers a long-term accumulation zone after about four years of decline, and from there, he expects the world's second-largest cryptocurrency to build a base before beginning its next impulsive move higher.