Crypto investors should start monitoring Ethereum (ETH), as the cryptocurrency’s value may be poised for a significant rise against Bitcoin. A crypto analyst suggests a possible 180% increase in the ETH/BTC trading pair, indicating that now could be the right moment for investors to think about swapping their BTC for Ethereum.
Is It Time to Exchange Bitcoin for Ethereum?
The price of Ethereum has taken such a notable downward trend over recent months that analysts have described it as “the ultimate disaster of this cycle.” Despite the launch of Spot Ethereum Exchange Traded Funds (ETFs), the sentiment surrounding ETH remains subdued, and its price continues to vary.
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Considering Ethereum’s price decline, a crypto analyst known as ‘CryptoBullet’ has stated that investors are now entering the last phase of the ETH/BTC bear market. Hence, the analyst anticipates a 180% surge for ETH/BTC, emphasizing that now may be the moment for investors to begin exchanging their Bitcoin for Ethereum to take advantage of ETH’s expected price recovery.
On September 12, the analyst shared insights on X (formerly Twitter) regarding the ETH/BTC trading pair on the monthly charts. CryptoBullet observed that the ETH/BTC monthly chart illustrates a longstanding recurring pattern in ETH/BTC price actions over time.
This recurring trend involves a testing phase, followed by a breakdown and an accumulation period prior to a surge to new peaks. CryptoBullet has identified this distinct trend in previous cycles, notably from 2016 to 2017 preceding a major upswing, again from 2018 to 2021, and now ongoing from 2022 with expectations for a strong price recovery continuing into 2025.
With 2022 serving as the testing phase, and 2024 designated as the accumulation and breakout phase, CryptoBullet projects that the Ethereum price in relation to Bitcoin could reach $0.0885 or $0.11. This implies that by 2025, one Ethereum may be valued around $5,109 or $6,351.
New Bullish Price Targets Revealed for ETH
‘TopGcrypto,’ another analyst on X has forecasted that Ethereum could experience a price uptick to new heights before the year concludes. The analyst noted that Ethereum is currently witnessing robust price activity and approaching a critical resistance trend line.
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Presenting an Ethereum price chart illustrating its movements from July to September, TopGcrypto emphasized that the important resistance level is near $3,115. He indicated that if Ethereum’s price can break above this critical trend line, it could present a strong opportunity for investors to consider going long on the cryptocurrency.
The analyst asserted that such a breakout could potentially propel the price of Ethereum towards new targets of $2,560, $2,780, and $3,115. It’s worth noting that at the time of writing, Ethereum is trading at $2,338, according to CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
