Ether Poised To Come Back With A Vengeance Famous Analyst Says ETH Hitting $20,000 Not Unreasonable
A popular crypto analyst is super bullish on Ethereums native token, Ether (ETH), suggesting that a $20,000 price for the worlds second-largest cryptocurrency by market cap is in the making despite the current bearish sentiment.
Is $20,000 A Reasonable ETH Price Target?
Analyst Credible Crypto said in a post on X that Ethereum appears bullish on the monthly time frame.
We dont always get HTF PA that is this clean, and the only thing I like better than crystal clear HTF PA is sentiment to be in the absolute gutter along with it, Credible Crypto wrote.
According to the anonymous crypto strategist, Ether is primed to come back with a vengeance in the next few months, and ironically enough, it seems its going to leave some of its strongest supporters (former .eths) behind.
Ethers performance in 2024 left many observers underwhelmed. Despite managing a considerable rally, the second-largest crypto failed to pierce its current lifetime time high of $4,878, hitting a high of only $4,047 in December roughly 15% below its November 2021 peak.
At press time, Ether was changing hands at $3,140, according to CoinGecko data. It touched a high of $3,707 earlier this month but has since retraced below $3,500 and is struggling to recover above that zone.
Nonetheless, Credible Crypto believes ETH could soar by over 190% from the current level.
$10,000 is a bare minimum once we break out, in my opinion, and I think $20,000 is certainly not unreasonable by the end of the cycle, he quipped.
Credible Crypto, however, notes that Ether will meet an immediate hurdle at around the $4,000 region. Specifically, a bullish close above $3,560 would boost the chances of Ethereum retaking the psychologically significant $4,000 price in Q1 2025 and flipping it into support.
World Liberty Financial Aggressive ETH Accumulation Spree
Meanwhile, World Liberty Financial (WLFI), the decentralized finance project associated with U.S. President Donald Trump, has scooped up millions of dollars worth of Ether in recent weeks. WLFIs total Ether stash has now hit 55,702 ETH, valued at approximately $185 million based on current market prices, Arkham Intelligence data shows.
The crypto project supported by Trumps family has yet to publicly reveal the motivation behind the substantial ETH purchases, fuelling speculation that staked Ether ETFs could soon receive the regulatory go-ahead under the new Trump administration.
Text source: ZyCrypto
