Over the previous week, Bitcoin and other major altcoins have finally begun to stale. Their prices have tanked across the board, losing over 10% since the highs put in last week.

Nonetheless, analysts are certain that the outlook for some coins remains bullish. Recently, a trader, Satoshi Flipper, specifically noted that ETH is preparing to surge, at least from a medium-term perspective.

Flipper noted that ETH’s weekly chart is showing relatively bullish signs after bottoming around $120. He specifically noted the Heiken Ashi Candles have turned green on the ETH weekly chart, suggesting a medium-term uptrend is forming. These Heiken Ashi Candles are a special charting technique used to determine trends more easily.

Although Flipper didn’t give a specific price target in his tweet, the arrows depicted on the chart suggest that $200 could be the target. It is common knowledge in crypto that the prices of altcoins follow that of Bitcoin. As such, ETH’s price movement, whiles seemingly bullish right now, is mainly dependent on that of BTC.

Fortunately for the ETH community, analysts expect BTC to also appreciate in the coming months. A rise to $12,500, as predicted by analysts Flib Flib, in the latest edition of his Decentrader newsletter, would require BTC to surge by 50% from current price. A similar move in ETH could also put its price near $250.

There are also the fundamentals that suggest the crypto market will be largely bullish in 2020. In December 2019, Binance CEO, CZ, said that he has seen increasing institutional interest in the industry, bolding well for the market. He added that, the long-term outlook for the industry is bullish.

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