Analysts who have recently been carefully watching Ethereum, have been expecting ETH to start pumping any given day. Now, as Ether is rising almost 15 percent, many traders are offering bullish ETH forecasts.
It is behind Tezos, ranked in the top 10, and is pumping nearly 25 percent.
Analysts bullish AF on Ether
Trader 'CryptoWolf', while watching an ETH/BTC chart, states that while trading at $250, ETH has not even started pumping yet. He reckons that a fair value for ETH would be twice as big as it is now - $500.
“$ETH @ 250$ and ethbtc has not even started to pump yet. It’s gonna be brutal for Maxis.”
He reminded the community of the time when Bitcoin dropped to $10,300 back in 2018 and Ethereum was trading at $750. Now, CryptoWolf says, ETH is heading back to this equilibrium price mark.
In 2018 when BTC was at todays price 10300, ETH was at 750$. It's time ETH goes back to its equilibrium price.— CryptoWolf (@IamCryptoWolf) February 12, 2020
Crypto trader Ethereum Jack says that Ethereum and BTC are both continuing their rally with ETH having just broken a resistance.
$279 per ETH on the cards
Twitter user ‘TraderXO’ says that ETH has a chance of reaching $279 per coin (0.027000 BTC), provided that the current level holds and prints a ‘Show of Strength’. In that case, he believes the bullish trend for ETH and other altcoins will continue for a few weeks.
However, he also believes a deep reversal may take place.
Previous bullish ETH forecasts
As reported by U.Today in previous stories, analysts have been pretty bullish on the price level Ethereum is likely to reach in the near term. Among the predicted figures have been $250, $290 and $553.
Crypto trader BTC_Macro assumes that ETH may reach an astounding $10,000 in the next bull run.
Last week, Mike Novogratz shared his view on ETH, saying that, after reaching $200 in a few days, the coin will conduct a bigger move.