Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction

One pseudonymous cryptocurrency technical analyst with an alias “Rampage” recently predicted that Ethereum will skyrocket and will put Bitcoin in the shadows, rising by more than 70% against the most dominant cryptocurrency.

The coming altcoin news show the tweet in which the analyst attached an image showing the price action of the two markets – overlaid in a single chart. As he predicted, Ethereum will move higher against Bitcoin and will closely follow the price action of its USD counterpart.

Looks like it's time for $ETH| $BTC to catch up to $ETH| $USD pic.twitter.com/3KDafuWYCG

— Caesar🦍 (@thrillmex) May 21, 2019

Even though the analyst who made the altcoin news is quite anonymous, his chart is definitely spot-on when it comes to the current technicals. He believes that Ethereum will skyrocket based on a compelling technical analysis – and a forecast that supports his prediction.

What’s also interesting is the fact that the same analyst has been featured on many best cryptocurrency news sites on May 24, when he emphasized how Ethereum converted the former resistance of 0.03 into support. In many books, this was seemingly bullish price action as it showed rejection of lower prices.

The tweet below shows is a detailed illustration of that.

Zoomed in because you can't actually see the stop on previous post.

Decisive close under this swing low + HTF s/r flip and i'm out.

If I'm looking for a low risk high reward play, this is what it looks like. $ETHBTC pic.twitter.com/aLzLrUFgC4

— Caesar🦍 (@thrillmex) May 24, 2019

If we go into another perspective and see if Ethereum will skyrocket in the long run, a timeframe ETH analysis points to an ultra bullish take on a longer time frame. ‘Rampage’ also posted a chart where targets are specified – where the first target is 0.040873 and the second is set at 0.053449. Right now, ETH is trading at 0.030858 and a USD price of $264.30.

If this analysis turns out to be accurate, more long positions in the market can boost the Ethereum holdings against Bitcoin – by more than 70% in the long run.

Clean long setup on $ETHBTC pic.twitter.com/W3oNfTUIWD

— Caesar🦍 (@thrillmex) May 24, 2019

It has now been three weeks since this prediction was made – and ETH has yet to make a move. Still, bulls think that Ethereum will skyrocket in the next 24 to 48 hours – where the key level is set at the resistance between 0.031 and 0.032.

A look in the latest cryptocurrency news shows that Bitcoin (BTC) managed to ignite a bullish run and trigger many altcoins to rise. The bulls are now in the perfect position to break out of the pattern and build significant momentum. All of which supports this analyst’s forecast on Ethereum and its price targets.