Nicholas Merten, a popular crypto analyst and trader, has foreseen a notable surge in the price of Ethereum (ETH), the second-largest cryptocurrency by market cap, in the coming months as the digital asset continues to showcase bullish signs.
According to Merten in a new video shared with his teeming YouTube subscribers, Ethereum (ETH) has the potential to surge 400% from its current prices. The crypto strategist stated that the top cryptocurrency is about to replicate the bull run of 2017.
Merten is also bullish on Ethereum (ETH) in its Bitcoin pair. According to the trader, ETH has the potential to hit its price all-time high of 0.15 BTC worth $7,792 at the time of press.
Nicholas Merten noted:
“Ethereum’s still holding around its midline here, showing that it’s probably going to – just like it did back here in 2017 – formulate and set the stage here to continue climbing higher towards a much bigger even level. And we’re kind of keeping that target range of potential around $20,000 if we have the expanding cycles if we really go out into the late part of 2022 to early 2023.
“But even if we have a more conservative estimate of $10,000 or $15,000, we’ve clearly set the stage for higher highs here in the sense of the dollar pair.
“Since the lows, we’ve really made a nice rebound back here (0.055 BTC or $2,844) and look like we’re revisiting back relatively close to the previous relative highs of this cycle, which is again signalling further that you have the cupping price action that scoops back up, and we start to pick up the momentum…
“You can see here that we’ve still got ways to go comparative to where we were back here in June of 2017 or here in February of 2018.”