A widely followed crypto analyst is unveiling his price predictions for Ethereum (ETH) and Bitcoin (BTC), the top two digital assets by market cap.
In a new strategy session, pseudonymous crypto trader Pentoshi tells his 868,400 followers on the social media platform X that ETH could eclipse the $3,000 price tag this quarter as it’s undergoing a “structural shift.”
“I think we see $3,000+ this quarter for what it’s worth. Really can’t hate this chart. We’ve been in this new range for quite some time. I’d guess it resolves in the near future. It’s all about waiting. I do think there’s a structural shift occurring. Upside is 3.2x or so. Downside is in my opinion $2,100.”
Pentoshi goes on to note that he believes Ethereum will eventually “melt up,” not just against USD, but against other assets as well.
“Ethereum probably melts up, and not just against the USD.”
The trader’s chart indicates that ETH will peak over $4,000 sometime during the start of 2025 before eventually settling around $2,500 in July of next year. Ethereum is trading for $2,577 at time of writing, a fractional increase on the day.
Moving on to BTC, Pentoshi says the top crypto asset by market cap’s movements since July 2023 don’t appear to be bearish.
“This is not a bearish chart. It’s just not. I think the people who are bearish got chopped because of low time frames, which lead to both mental and financial chop.”
He concludes by noting that the crypto king should hit a new all-time high soon, but doesn’t give a specific date range. Bitcoin is trading for $109,488 at time of writing, a 1% increase during the last 24 hours.
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