According to KOL Nicholas Merten, the long-cycle top of ETH could increase four times the current ATH
Analyst Nicholas Merten suppose i think The Ethereum (ETH) race has only just begun.
ETH rose to an all-time high (ATH) of $ 4,674 on Wednesday and is trading for $ 4,547 at press time.
In a new video on YouTube, Merten says the largest altcoin is showing solid momentum and is poised to “continue the trend”. According to him, the long-term cyclical spike in ETH could still be up to four times higher than its ATH.
“The long-term cyclical high for this general bull market will be $ 20,000. I really think ETH has tremendous potential to climb into the $ 15,000-20,000 range. That’s the overall target range and $ 20,000 is the bullish number I’m aiming for. “
The near-term target would be somewhere between $ 7.5,000-10,000, which is half of the valuation range above. That means Bitcoin will go up to $ 100,000 and then possibly to $ 200,000. “
Merten warns that he does not call himself an “expert” and merely says that the price range of $ 7,500 to $ 10,000 is a “very promising range”.
He thinks there could be a few days of decline or a week of stagnation and consolidation, but in general there won’t be the kind of correction that took place in May.
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According to Dailyhodl