Kaleo Predicts Ethereum to Hit $18,000 By July 2022, Based On Past Trends
A popular crypto analyst and trader, known as Kaleo predicts a huge rally for the second largest crypto asset Ethereum’s within the next 12 months.
In a recent interview, the pseudonymous trader looks back at the performance of the leading smart contract platform back in 2017 when Ethereum (ETH) dived from close to $400 to below $200 in one month before soaring to its 2018 high of $1,440.
“Back in 2017, right around a year after the halving, there was a 70% decline, and everything looked dead. [ETH] was able to come back and go well above its all-time high. We’re right around that same length of the period of time after. Here (June 2021), a similar type of decline and at the support. There are a lot of things lining up there as far as the high timeframe bullishness is concerned.”
Based on Ethereum’s 2017 historic price pattern, the analyst predicts that Ether will stage a massive rally from its high timeframe support en route to a new all-time of $18,000 by July 2022. The potential move would be an increase of over 800% from Ethereum’s current price of $1,985.
Although Kaleo is long-term bullish on Ethereum, he says he’s open to re-evaluating his stance should ETH break below its high timeframe support, around $1,700.
Previously Kaleo said that he sees Ethereum trading above $10,000 by the end of the year.
“My predictions for the second half of 2021:
– BTC enters 6-figure price discovery – ETH breaks above $10,000 – We see one more major alt season – More institutional / government adoption – More institutional / government FUD.”
Another prominent crypto analyst and trader, Michaël van de Poppe has also shared his recent views on Ethereum’s price action: Ethereum is on the edge of breaking crucial support at $1,741.
In case bulls fail to hold the $1,741 level, he sees Ethereum falling to its 2018 high of around $1,400.
“Ethereum is back at support after rejecting at $2,400, a crucial area.”
