{"id":31293,"date":"2023-10-21T17:52:39","date_gmt":"2023-10-21T21:52:39","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31293"},"modified":"2023-10-21T17:52:39","modified_gmt":"2023-10-21T21:52:39","slug":"ethereum-set-to-outperform-crypto-analyst-predicts-18-rise-to-1900","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/21\/ethereum-set-to-outperform-crypto-analyst-predicts-18-rise-to-1900\/","title":{"rendered":"Ethereum Set To Outperform: Crypto Analyst Predicts 18% Rise To $1,900"},"content":{"rendered":"

Ethereum (ETH<\/a>) has so far relatively underperformed<\/a> in comparison to the flagship cryptocurrency Bitcoin<\/a>. However, that could change soon enough as a crypto analyst has predicted the second-largest crypto token by market to gain some momentum soon enough.\u00a0<\/p>\n

Ethereum To Hit $1900<\/h2>\n

In a post<\/a> shared on his X (formerly Twitter) platform, prominent crypto analyst Ali Martinez mentioned that Ethereum could rise to as high as $1,900. His prediction was based on data that he had pulled up from the chart which he shared in his post.\u00a0<\/p>\n

The chart (a 3-day timeframe) featured an ascending triangle pattern<\/a>, which usually represents a bullish formation. According to Ali, Ethereum is \u201cpoised\u201d to rebound off the hypotenuse of the ascending triangle. Most importantly, for Ethereum<\/a> to go as high as $1,900, the analyst noted that It has to experience a \u201cfirm close\u201d above the 18-day SMA (Simple Moving Average)<\/a>.<\/p>\n\n

If that happens, Ethereum could hit $1,800 and further rise to $1,900 based on Ali\u2019s predictions. It is worth mentioning that the last time Ethereum hit $1,900 was back in July 2023. A rise to that price again will represent about an %18 increase from its current price of $1,600.\u00a0<\/p>\n

Ali also had something to say about the flagship cryptocurrency, Bitcoin<\/a>. In a subsequent post<\/a>, he noted that the crypto token could see a correction to $28,800; a prediction he made based on the TD Sequential from a 4-hour chart.\u00a0<\/p>\n

Bitcoin rose to as high as $30,000<\/a> on October 20, with many speculating that a Spot Bitcoin ETF approval could be on the way, something that represents a bullish momentum for Bitcoin and the crypto market in general.\u00a0<\/p>\n\n

Bitcoin\u2019s Dominance Is On The Rise<\/h2>\n

Data<\/a> from TradingView shows that Bitcoin\u2019s dominance has been on the rise this year, with the token currently boasting over 52% coin dominance in the crypto market. Interestingly, it has steadily risen since the Ethereum Merge<\/a> occurred.\u00a0<\/p>\n

This is significant considering that many speculated that \u2018the Flippening\u2019<\/a> could happen after the Merge, where Ethereum overtakes Bitcoin to become the most dominant crypto token. However, that hasn\u2019t happened so far, with Ethereum\u2019s move from proof-of-work to proof-of-work being seen as \u2018disastrous\u2019<\/a> for the crypto token.\u00a0<\/p>\n

Bitcoin and Ethereum, however, share the podium when it comes to the best-performing assets of the year. Both crypto tokens are said<\/a> to have outperformed the NASDAQ<\/a>, S&P500, and Gold. Bitcoin has seen an %80 increase year-to-date (YTD), while Ethereum has seen a %35 increase YTD.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum (ETH<\/a>) has so far relatively underperformed<\/a> in comparison to the flagship cryptocurrency Bitcoin<\/a>. However, that could change soon enough as a crypto analyst has predicted the second-largest crypto token by market to gain some momentum soon enough.\u00a0<\/p>\n

Ethereum To Hit $1900<\/h2>\n

In a post<\/a> shared on his X (formerly Twitter) platform, prominent crypto analyst Ali Martinez mentioned that Ethereum could rise to as high as $1,900. His prediction was based on data that he had pulled up from the chart which he shared in his post.\u00a0<\/p>\n

The chart (a 3-day timeframe) featured an ascending triangle pattern<\/a>, which usually represents a bullish formation. According to Ali, Ethereum is \u201cpoised\u201d to rebound off the hypotenuse of the ascending triangle. Most importantly, for Ethereum<\/a> to go as high as $1,900, the analyst noted that It has to experience a \u201cfirm close\u201d above the 18-day SMA (Simple Moving Average)<\/a>.<\/p>\n

If that happens, Ethereum could hit $1,800 and further rise to $1,900 based on Ali\u2019s predictions. It is worth mentioning that the last time Ethereum hit $1,900 was back in July 2023. A rise to that price again will represent about an %18 increase from its current price of $1,600.\u00a0<\/p>\n

Ali also had something to say about the flagship cryptocurrency, Bitcoin<\/a>. In a subsequent post<\/a>, he noted that the crypto token could see a correction to $28,800; a prediction he made based on the TD Sequential from a 4-hour chart.\u00a0<\/p>\n

Bitcoin rose to as high as $30,000<\/a> on October 20, with many speculating that a Spot Bitcoin ETF approval could be on the way, something that represents a bullish momentum for Bitcoin and the crypto market in general.\u00a0<\/p>\n

Bitcoin\u2019s Dominance Is On The Rise<\/h2>\n

Data<\/a> from TradingView shows that Bitcoin\u2019s dominance has been on the rise this year, with the token currently boasting over 52% coin dominance in the crypto market. Interestingly, it has steadily risen since the Ethereum Merge<\/a> occurred.\u00a0<\/p>\n

This is significant considering that many speculated that \u2018the Flippening\u2019<\/a> could happen after the Merge, where Ethereum overtakes Bitcoin to become the most dominant crypto token. However, that hasn\u2019t happened so far, with Ethereum\u2019s move from proof-of-work to proof-of-work being seen as \u2018disastrous\u2019<\/a> for the crypto token.\u00a0<\/p>\n

Bitcoin and Ethereum, however, share the podium when it comes to the best-performing assets of the year. Both crypto tokens are said<\/a> to have outperformed the NASDAQ<\/a>, S&P500, and Gold. Bitcoin has seen an %80 increase year-to-date (YTD), while Ethereum has seen a %35 increase YTD.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31293","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31293"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31293\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31293"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}