Categories: Market Overview

Ethereum Could Soar to $900, Predicts Popular Elliott Wave Trader

Bitcoin’s jaw-dropping run over the last few weeks has made many people euphoric. Some are starting to predict that the leading cryptocurrency will hit $60,000 in this bull cycle. Claims like this often signal that a local top is in. If that’s the case, those who took profits at current levels might move their capital to other crypto tokens. A stellar candidate to be the recipient of this capital flow might be Ethereum. It appears that others share this bias.

A popular Elliott Wave technician that goes by the name Benjamin Blunts looked at Ethereum and saw a striking resemblance between its 2017 price action and today’s market structure. On June 15, The Elliottician took to Twitter to illustrate the potential bullish setup of the cryptocurrency.

In the tweet, the trader also emphasized that the key level to break is $302. As of this writing, Ethereum is trading above $302. If the analyst is correct, we could expect fireworks soon. Others echo this sentiment.

Trader and analyst Luke Martin recently shared his thoughts on Twitter about Ethereum. He said that if bitcoin struggles to go above $11,200, he expects the No. 2 cryptocurrency to “go on a tear” and touch $340.

In fact, $340 appears to be a conservative target. An analyst with a pseudonymous account has a target that’s close to the price set by Benjamin Blunts. CryptoFella expects Ethereum to go as high as $835.38.

Ethereum Could Soar to $900, Predicts Popular Elliott Wave Trader, CCN, Jun 26
AddThis Website Tools
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

GBPUSD Wave Analysis – 18 March 2025

GBPUSD: ⬆️ Buy - GBPUSD reversed from support zone - Likely to rise to resistance…

4 hours ago

GBPAUD Wave Analysis – 18 March 2025

GBPAUD: ⬆️ Buy - GBPAUD reversed from the support zone - Likely to rise to…

4 hours ago

Solana Wave Analysis – 18 March 2025

Solana: ⬇️ Sell - Solana reversed from the resistance zone - Likely to fall to…

6 hours ago

CHFJPY Wave Analysis – 18 March 2025

CHFJPY: ⬆️ Buy - CHFJPY broke resistance zone - Likely to rise to resistance level…

6 hours ago

The crypto market is stuck in the mud

Market Picture The crypto market has been hovering in a narrow range for the past…

10 hours ago

FTSE 100 Wave Analysis – 17 March 2025

FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…

1 day ago