The year 20200 has observed many unfortunate events that have laid bad impact on the financial sector, especially the crypto industry. Along with Bitcoin, even Ethereum price has been fighting all the odds to get back its long lost massive bull run.
However, the lead altcoin has now managed to make its way above $1,800 for the first time in the span of the last 9 months. At the time of writing, Ethereum has 3.74% over the last 24hrs and is now selling at $1,811.
Meanwhile, one of the closely followed crypto analysts and traders known as Smart Contracter is plotting a huge bull run for Ethereum. The analyst with 221,400 Twitter followers claims that the second largest cryptocurrency by market cap is about to end its correction. Also he says that this was not the situation that he was expecting.
eth/btc just took out a 6 month low, only 3% lower before my major buy zone.
not the circumstances i was expecting this to happen under (i thought eth and btc would be falling but eth moreso) but theres no chance im missing the monster eth rally thats coming. pic.twitter.com/NZC9ZvO8K3
— Bluntz (@Bluntz_Capital) March 17, 2023
The analyst flashes a chart through which we can observe that ETH/BTC has dropped and is about to reach 0.618 Fibonacci retracement support. If this happens, then Ethereum will most likely experience an upward movement.
This optimistic comment from the strategist is followed by the analysis of Santiment, a crypto analytics platform. As per the analytical platform, in the last one year, Ethereum sharks have managed to add 3.61 million ETH coins. While on the other hand, the addresses that hold 10,000 to 10,000,000 ETH have sold nearly 9.43 million in the previous year.
Optimist To Follow Bullish Ethereum
Before the analyst winds up his analysis, Smart Contracter tries to put some light on Optimism. As per the chart, the trader asserts that OP is currently bullish and is said to see its next leg up soon.
Currently, Optimism is changing hands at $2.90 after a gain of 8.68% over the last 24hrs.
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Elena R
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
