Ethereum Set for Strong Comeback, Analyst Predicts Potential Surge to $20,000

A prominent crypto analyst is expressing a bullish outlook on Ethereum (ETH) despite a generally bearish market sentiment surrounding the second-largest cryptocurrency.

Credible Crypto recently stated that Ethereum’s chart is showing strong signs of potential upward movement, particularly on the monthly timeframe.

He points out that while the broader sentiment is negative, this creates an ideal scenario for Ethereum’s recovery. “It’s rare to see such clear high-timeframe price action, and when it aligns with a pessimistic market outlook, that’s even better,” he said, suggesting that Ethereum is poised for a significant comeback.

Credible Crypto believes Ethereum could soar by over 195%, estimating a “bare minimum” price of $10,000 once a breakout occurs, and he even speculates that a $20,000 target by the end of the cycle is realistic.

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In the short term, however, Ethereum is expected to face resistance around the $4,000 mark. The analyst plans to take profits near $3,800, as he anticipates a potential pullback from the supply zone, which lies between $3,800 and $4,100.

Alexander Zdravkov