A widely followed analyst predicts that Ethereum (ETH) will see rallies to the tune of 125% from current levels during this crypto bull market.
The anonymous host of InvestAnswers tells his 494,000 YouTube subscribers that he’s using the layer-in, layer-out model to determine potential price targets for the native asset of the leading smart contract platform.
The layer-in, layer-out model is based on various factors such as trend analysis, volatility and market behavior.
Says the host of InvestAnswers,
“I do believe it [Ethereum] could run quite a bit. And per our layer model, it could reach $8,000. But I do believe if you have a position, start thinking about layering out to faster horses.”
But while the anonymous analyst is predicting new all-time highs for Ethereum, he says that ETH only accounts for 0.6% of his portfolio as he thinks other crypto assets will outperform the second-largest crypto asset. One altcoin on his mind is the Ethereum rival Solana (SOL).
“ETH is being eaten alive by Solana. This is the performance over the last year. Solana has beaten ETH by nearly 400%. And ETH has been on a rampage, okay.
ETH went from $1,300 to $4,000… but still Solana has smoked it.”
At time of writing, Ethereum is trading for $3,385 while SOL is worth $187.57.
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The post Here’s an Upside Price Target for Ethereum (ETH) This Market Cycle, According to InvestAnswers appeared first on The Daily Hodl.
