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Cryptocurrency investors may need to start paying attention to Ethereum (ETH)as the cryptocurrency price could be gearing up for a major rally against Bitcoin. One crypto analyst predicts a potential 180% price surge ETH/BTC Trading Pairindicating that now might be an opportune time for investors to consider converting their BTC holdings to Ethereum.
It’s time to trade Bitcoin for Ethereum
The price of Ethereum has been at such a high significant downtrend In recent months, analysts have tagged This is “the ultimate shit show of this cycle.” Despite the launch of Ethereum Exchange Traded Funds (ETFs)Market sentiment for ETH remains weak and its price continues to fluctuate.
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Taking into account the drop in Ethereum’s price, a crypto analyst identified as “CryptoBullet” has declared that investors are now entering the final leg of ETH/BTC bear market. As such, the analyst predicts a 180% surge for ETH/BTC, noting that it may be time for investors to start trading their Bitcoin for Ethereum to potentially capitalize on the anticipated ETH price rebound.
On September 12, the analyst took to X (formerly Twitter) to discuss his observations on the ETH/BTC trading pair on the monthly chart. CryptoBullet pointed out that the ETH/BTC monthly chart highlights a long-standing recurring trend in ETH/BTC Price Evolution Over the years.
This recurring pattern is characterized by a testing phase, followed by a period of breakout and accumulation before a rally to new highs. CryptoBullet has identified this unique trend in past cycles, including between 2016 and 2017 before a major rally, again from 2018 to 2021, and now starting in 2022 with expectations of a strong price rebound extending into 2025.
With 2022 as a testing phase and 2024 marked by a period of accumulation and decay, CryptoBullet predicts that the Ethereum price vs Bitcoin The price of Ethereum could climb to $0.0885 or $0.11. This suggests that by 2025, the price of one Ethereum could be worth around $5,109 or $6,351.
New bullish targets revealed for ETH
“TopGcrypto”, a crypto analyst on X has predicted that Ethereum could see its price increase to new levels before the end of the year. The analyst revealed that Ethereum is currently experiencing strong price movements and is approaching a key resistance trendline.
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Sharing a chart of Ethereum price showing its movements from July to September, TopGcrypto highlighted that the crucial resistance level lies around the $3,115 price level. He indicated that if Ethereum price can exceed this critical trend lineThis could be a good opportunity for investors to consider a long position on the cryptocurrency.
According to the analyst, such a burst could potentially push Ethereum price towards new targets of $2,560, $2,780, and $3,115. It is important to note that at the time of writing, Ethereum price is trading at $2,338, according to CoinMarketCap.
Featured image created with Dall.E, chart by Tradingview.com
