A well-known cryptocurrency trader and expert named Titan of Crypto has made a bold prediction that has caught the attention of the cryptocurrency community: he thinks that Ethereum (ETH) will go up a lot, with a price goal of $5,300. Based on good market conditions and rising investor trust, this prediction shows that cryptocurrency could make a lot of funds.
In February, Titan of Crypto noticed a Bullish Cypher Pattern forming on Ethereum’s weekly chart. This pattern was similar to one seen for Bitcoin. “Just like for Bitcoin, a bullish cipher pattern is currently playing out on ETH’s weekly chart as well,” said he. He gave Ethereum price targets in the next few months, ranging from $2,410 to $4,024, which are raises of 38.20%, 50.00%, 61.80%, and 78.60% from the prices.
Earlier this month, the analyst said that the bullish cipher pattern had formed as planned and that the original price targets had been met, which meant that a big rally was about to happen. Around $2,880, ETH was at the 38.2% Fibonacci retracement level, which Titan of Crypto called the “1st stop.”
Ethereum Set for Further Gains as Bull Flag Pattern Forms
As expected, Ethereum has since risen from $2,880, and on a weekly scale, the asset is now making a bull flag pattern. Titan of Crypto now says that $5,300 is the next price goal for ETH, which means the price could increase even more in the coming months. Since ETH’s price has been rising, an altcoin season may be coming soon.
Even though things look good, Ali Martinez, a well-known and respected crypto expert, has pointed out the chance of a correction to the downside. Martinez said that the TD Sequential indicator on Ethereum’s 4-hour period had previously shown a good chance to buy, which caused the price of Ethereum to rise by 32%.
However, the indicator has changed to a sell warning as interest in ETH Spot Exchange-Traded Funds (ETFs) has grown. Martinez sees a reversal going down of one to four candlesticks. ETH is worth about $3,728 and has increased by more than 28% in the last week. The asset’s market cap and trade volume have dropped by 1.56% and 28%, respectively, despite this momentum.
The different points of view of Titan of Crypto and Ali Martinez show how volatile and unpredictable the bitcoin market is. In the coming weeks, investors and traders will closely watch Ethereum’s performance to see if the bullish predictions come true and a correction is coming.
