Crypto investor and analyst Michaël van de Poppe is updating his outlook on Ethereum and sharing his prediction on when the leading smart contract platform will reach a new all-time high.
In a new video, Van de Poppe tells his 93,000 followers that ETH continues to be in a strong and steady uptrend.
“Currently, we’ve got a clear block holding as support that we are actually holding as support and we can see that we are making higher lows, higher highs. There was the crucial level to hold at $530… What I want to see holding in general is this area around $530. If we do lose that, then we get the best entry zone that we initially made here which is around $470, $490 to $450.”
Van de Poppe says Ethereum’s recent breakout sets up the second-largest cryptocurrency for a move above its all-time high of $1,432.
“Given that we are currently searching even more, I have to redo the Fibonacci levels and then you can see that the next impulse wave most likely, somewhere in 2021, maybe Q1 2021 already, we’re going to see a rally towards the all-time high. That’s going to be the next one.”
As for ETH/BTC, the trader says he expects the pair to continue consolidating before igniting a monster rally of over 125% from its current value of 0.0266.
“We see that the crucial level to hold (0.024) is actually holding. Most likely, we’ll have a few weeks of sideways continuation before we start to get the next impulse wave. As in general, we see higher high, higher low, higher high, higher low. Most likely, we’re going to get a higher high towards the area at 0.06.”
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