Several analysts have predicted big gains for the amount two cryptocurrency by market cap, Ethereum, within the next few months. One even suggested a replay of his 100% surge prediction from early last year, during a tweet on Jan. 1.
Falling wedges break upside 68% of the time
Last week, analyst Manu Naik acknowledged that the ETH/USD 1-day chart was during a falling wedge. These break upside 68% of the time, he said, and $128 is at the lower limit.
The falling wedge remains live , and that we are still at the lower limit. this suggests that Naik’s prediction of a possible upwards breakout to $240 by mid-January could still get on the cards.
ETH looks better than BTC at the instant
The Wolf of All Streets, analyst Scott Melker, tweeted on New Year’s Eve, that he believes Ether looks better than Bitcoin at the instant.
He followed that abreast of Jan. 1, with an ETH/BTC chart, highlighting the range that ETH has traded in against BTC since July. the present situation sees ETH rebounding upwards off significant support, putting it during a great position to travel higher.
Ether to continue playing the range?
Finally, popular analyst, DonAlt, suggested on Dec. 31, that Ether price could “play the range” until 2021 bouncing between key support and resistance levels of $130 and $268, respectively.
Moreover, on Dec. 1, the trader cited a post last February when he had bought in at just over $100, with a target of $200. “How about we roll in the hay again?” he added.
As Cointelegraph reported Dec. 31, if Ether does start to maneuver upwards, it could finally begin the expected alt-season that never really materialized in 2019.