Crypto Trader Predicts Ethereum Surge and Bullish Altcoin Phase

A well-known crypto trader and analyst is feeling optimistic about Ethereum compared to Bitcoin.

In a recent strategy session, the analyst Altcoin Sherpa mentioned that the ETH/BTC pair remains robust.

$ETH: ETHBTC still holding up pretty strong. I still think this is a fine spot to get in before ETF- is it priced in? Probably. But ETH to all time highs is near guaranteed before the end of the year pic.twitter.com/J6c14zeKLU

— Altcoin Sherpa (@AltcoinSherpa) July 3, 2024

He noted that the ETH/BTC pair is in a favorable position for long opportunities, especially with the potential approval of spot Ethereum exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC).

Regarding Bitcoin, Sherpa states that its price is within a broad range between $73,000 and $56,000, though it appears bearish in the short term. He also mentions that a bullish phase for altcoins might start in about three months.

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High time frame $BTC chart still no real clarity to be honest. The 200d EMA around range lows is appealing but the gap between price and the EMA isn’t large enough to auto bid IMO.

Price still in a overall HTF range between 73-56k but things ofc look bearish in the short term pic.twitter.com/kTyUdNh1Nh

— Altcoin Sherpa (@AltcoinSherpa) July 3, 2024

Sherpa believes that although altcoins are currently experiencing a sell-off, a recovery might occur towards the end of the year, especially if Bitcoin stabilizes.

Alexander Stefanov