Analysts Predict That Ethereum will Gain 100% in Price to $260

Several analysts predicted a high price gain for the second best-performing cryptocurrency by market cap, Ethereum (ETH), for next several months. One of them even tweeted that it will presumably surge by 100% from early last year.

Fallling wedges reaching 68%

Last week analyst Manu Naik noted, that Ethereum has entered a falling wedge pattern. The patterns broke out upward in 68% of cases of the time, he said, and $128 was at the lower limit.

The falling wedge still continues, and we are still at the lower limit, meaning that the price could gain a breakout to $240, predicted by Naik, may actually happen.

Now ETH gives more hope than BTC

On December 31, The Wolf of All Streets, analyst Scott Melker tweeted that Ether has better prospects to gain in price than Bitcoin at the moment.

On January 1 he showed an ETH/BTC chart, showing how ETH outperformed BTC since July.

Currently ETH is moving upwards of significant support, having all the possibilities to go higher.

How long will Ether ”play the range”?

Laslty, one of the popular analysts, DonAlt tweeted on December 31, that Ether could ”play the range”, continuously shifting from $130 key support to $268 resistance levels and vice versa.

Furhtermore, on December 31 the analyst quoted a post from last February, when he bought in with some $100 with a target of $200. ”How about we do it again?” he said.

As it was recently reported, if Ethereum moves up, it may kickstart the ”altseason” which never truly happened in 2019.