Renowned analyst Kaleo predicts that Ethereum will rise within the next 12 months despite the current declining outlook in the crypto market.

In one Video New York Times, Kaleo looks back on the leading smart contract platform’s performance in 2017, when Ethereum (ETH) fell from nearly $ 400 to below $ 200 in one month before hitting a high of 1,440 US dollars soared in 2018.

“In 2017, which was about a year after the halving, there was a 70% drop and things were going very badly. However, [ETH] has recovered and is well above its all-time high. We are around this time, after the 2020 halving and a similar decline. There are many similarities that suggest that ETH will rise higher in the coming months. “

ETH / USDT daily chart | Source: Kaleo / youtube

Based on Ethereum’s price action in 2017, Kaleo predicts that ETH will do a parabolic rally from long-term support and rally to a new all-time high of $ 18,000 by July 2022. The potential represents an increase of over 860% from the current price of Ethereum of $ 1,978.

$ ETH hang at the HTF support pic.twitter.com/0x338r1sTC

– KALEO (@CryptoKaleo) July 19, 2021

While Kaleo is bullish on Ethereum over the long term, he said he would be open to reassessing his stance if ETH breaks through its long-term support zone, which is currently hovering around the $ 1,700 mark.

Last month, Kaleo said Ethereum will trade above $ 10,000 by the end of the year.

“My forecasts for the second half of 2021:

• BTC is exploring the 6-digit zone.
• ETH exceeds $ 10,000.
• We have another altcoin season.
• Accept more organizations / governments. BILLION
• Add organization / government FUD.
• Bears are falling again in price. “

Analyst Michaël van de Poppe also looks at Ethereum. He said Ethereum was about to break the critical support at $ 1,741. If the bulls can’t hold that level, Van de Poppe sees Ethereum drop to its 2018 highs of around $ 1,400.

“Ethereum has returned after being rejected by $ 2,400, an important area.”

ETH / USDT daily chart | Source: Van de Poppe / Twitter

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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