• An analyst who successfully rode the crypto market rally this year is outlining a scenario where Ethereum (ETH) could ascend to a level last witnessed in Q2 of 2022.
• According to DonAlt, a move above $1,940 will likely push Ethereum to $2,500, a level last seen in early May 2022 prior to a marketwide collapse triggered by the implosion of the Terra (LUNA) ecosystem.
• At time of writing, Ethereum is trading for $1,740, up over 4% in the last 24 hours.
Successful Crypto Market Rally
An analyst who successfully rode the crypto market rally this year is outlining a scenario where Ethereum (ETH) could ascend to a level last witnessed in Q2 of 2022. In a new strategy session, pseudonymous analyst DonAlt tells his 51,300 YouTube subscribers that ETH bulls must take out resistance at $1,940 to fire up momentum for the leading smart contract platform.
Potential Move Above $1,940
According to DonAlt, a move above $1,940 will likely push Ethereum to $2,500, a level last seen in early May 2022 prior to a marketwide collapse triggered by the implosion of the Terra (LUNA) ecosystem. “$1,940 – that area was resistance. We got rejected by it” he said “but if we come back up there…there’s a really high chance that we go to $2,500.”
Ethereum’s Current Trading Price
At time of writing, Ethereum is trading for $1