Ethereum
Top Analyst Sets Massive Targets for Ethereum: $7,000, $11,000, and $15,000
About Crypto Banter “The Sniper Trade Show” the analyst began by gauging the public’s enthusiasm and positivity towards the bull market. He then discusses market emotions and stages, noting that altcoins are not even at the “Hope” stage yet, but are still in a stage of disbelief. This, he suggested, means that the altcoin rally phase is approaching, usually occurring towards the end of the bull cycle.
The analyst added that he thought altcoins are still approaching a key phase of the market cycle and are about to begin their rally, which usually means the final stages of the bull cycle.
He then emphasized that Ethereum is currently at the top, around 3.68 (Fibonacci levels), which corresponds to the high of $4,900. Using Fibonacci levels from top to bottom provided all levels needed for analysis. Once Ethereum rose above the initial levels, it indicated the next play. If it was unsuccessful, it usually returned to the previous level, indicating where to buy back if profits were made in those areas.
For Ethereum, the analyst set targets at $7,000, $11,000, and $15,000. He believes that if this is a true bull run, Ethereum should reach the 3.618 Fibonacci level, as it has in all previous bull markets. Therefore, he is setting himself up for a potential maximum of $15,000, with intermediate targets of $7,000 and $11,000. At the time of writing, ETH is trading at $3,698 and is down 3% in the last 24 hours.
However, the analyst also issued a warning regarding the cryptocurrency market and said that even if the market capitalization reaches a billion dollars, the real value could be only a fraction of that, around 300 millions of dollars. This gap results from the euphoria and enthusiasm surrounding the market, causing prices to rise.
Read also: Altcoins Surge based on Solana! What’s next for MEW and HIGH tokens?