A top pseudonymous crypto analyst and trader, popularly known on Twitter as Kaleo, has predicted that Ethereum (ETH), the second-largest cryptocurrency by market capitalization, would experience a meteoric surge by 2022, judging by the history of the top digital currency and not considering the current devastating situation in the market.
In a new interview first reported by Daily Hodl, Kaleo referenced the performance of Ethereum (ETH), the world’s largest smart contracts platform in 2017, when it dipped from a high around $400 to below $200 within a month. He further stated that the digital currency eventually surged to record the $1440 price all-time high of 2018.
“Back in 2017, right around a year after the halving, there was a 70% decline, and everything looked dead. ETH was able to come back and go well above its all-time high. We’re right around that same length of the period of time after. Here (June 2021), a similar type of decline and at the support. There are a lot of things lining up there as far as the high timeframe bullishness is concerned.”
Ethereum (ETH) Would Hit $18,000 by July 2022
Kaleo, in his prediction, puts the price trend of Ethereum (ETH) back in 2017 into consideration. He said the digital token will display a parabolic movement from its high timeframe support straight to a new price all-time high of $18,000, which is a relatively 840% increase from its current price of $1,980.
With the look of things, the top analyst is long-term bullish on Ethereum. However, he said he could still reconsider his stance should the cryptocurrency break below its high timeframe support.
Meanwhile, Kaleo predicted about a month ago that he sees Ethereum (ETH) trading above $10,000 by the end of 2021.
“My predictions for the second half of 2021: – BTC enters 6-figure price discovery – ETH breaks above $10,000 – We see one more major alt season, – More institutional / government adoption – More institutional / government FUD.”