A widely followed crypto strategist and trader is predicting the time horizon for a huge Ethereum rally as he maps out the price targets for Polkadot (DOT) and FTX Token (FTT).
The trader, known in the industry as Altcoin Sherpa, tells his 136,600 followers that he’s keeping a close eye on Ethereum against Bitcoin (ETH/BTC) as he expects the pair to rally in the coming months.
“ETH: I think the ETH/BTC pair continues to range for the next few weeks/months before a huge move later this year/Q1. This probably goes a little higher before making a lower high in the short term. Ethereum does not outperform BTC in the coming weeks, in my opinion. ETH/USD goes to [new] all-time high.”
According to the trader’s chart, he believes the ETH/BTC pair to correct in the final months of 2021 before igniting a huge rally by January.
As for Ethereum against the US dollar, Altcoin Sherpa believes it is poised to rally to around $4,800 by next month.
The crypto strategist is also watching the price action of interoperable blockchain Polkadot. According to the analyst, he sees Polkadot consolidating against Bitcoin (DOT/BTC) toward the end of the year before a massive move up in early 2022.
“Expecting more ranging from the BTC pair… I think [the] BTC pair has good catalysts for later this year for a very strong run.”
According to the trader’s chart, the DOT/BTC pair can soar above 0.0011 BTC ($66.42) by February 2022, marking a potential upside of nearly 60% from its current price of 0.00072 BTC ($43.47).
Looking at the native token of crypto derivatives exchange FTX (FTT), Altcoin Sherpa outlines a potential target at $80 once it takes out resistance at $67.35.
“FTT. It’s still 1 of the safest alts you can have.”
Featured Image: Shutterstock/Sergey Nivens