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Ethereum (ETH) Price Predicted to Take Off 'Like Rocket Ship' by Top Crypto Analyst

Mon, 02/17/2020 - 07:15
Alex Dovbnya
Ethereum's price action could become 'sick' after this healthy pullback, Davincij15 states
Cover image via pixabay.com
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Prominent crypto trader Davincij15 predicts that another major rally could be in store for Ethereum (ETH), the second-largest cryptocurrency. In his recent video with MMCrypto, he says that the altcoin could "take off like a rocket ship."

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A healthy correction    

Over the past few days, the price of Ether has retraced by more than 15 percent. Davincij15 said that those who bought the top of the Ethereum rally should have waited for a pullback.    

However, the trader did mention that this correction was 'normal,' which is why he expects to see higher prices. 

Speaking of the ETH/BTC pair, Davincij15 pointed out that the 0.382 Fibonacci retracement level is now acting as support. 

image by MMCrypto

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Ether could double against Bitcoin 

When asked about short-term price predictions, Davincij15 suggested that Ether could make a 'sick' move and reach 0.046 BTC. However, it might face some strong resistance at the golden ratio level of 1.618.  

As reported by U.Today, Ether's price rally was also accompanied by fundamental growth with the number of active addresses growing by 27 percent in just one week.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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