Cryptocurrency Ethereum is expected to grow massively in the coming months — analysts

A cryptocurrency trader known as Bluntz believes that Ethereum (ETH) is showing all the signs of a powerful rally that could take place in the coming months. By the way, the analyst accurately identified the bottom of the bitcoin bear market BTC $97,615.51 Bitcoin 0.73% Market capitalization $1.93 trillion VOL. 24 hours $3.14 billion in 2018.

According to the crypto strategist, Ethereum may show parabolic growth from July to the end of 202Z. This will allow the leading smart contract platform to significantly outperform Bitcoin. «ETH has an excellent underlying structure when paired with USD, and its pairing with BTC also shows very good signs of reversal on high timeframes. I expect ETH to outperform BTC,» Bluntz said.

The expert is considered to be an experienced practitioner of the Elliott Wave Theory, an approach to technical analysis that allows you to determine the future behavior of cryptocurrency prices by analyzing the psychology of crypto enthusiasts. According to this theory, ethereum shows a five-wave rally on the chart, with the third wave signaling the steepest rise of the digital asset.

Based on the charts, Bluntz suggests that Ethereum is already in the early stages of the third wave surge, which could lead to ETH approaching $ 4000 by the end of 202Z.

At the time of writing, the leading altcoin ETH $3,486.52 Bridged Ether (StarkGate) 6.45% Market capitalization $0.3 billion VOL. 24 hours $1.85 billion is trading at $ 1,946 with a market capitalization of $ 233.9 billion. Traders made daily trading deals worth $ 6.5 billion.

The second-largest cryptocurrency by market capitalization has grown by 59% since the beginning of the year. This year, ETH has already boasted significant achievements — thanks to the long-awaited Shapella update, the ethereum was trading at $ 2130. In the same period, BTC crossed the psychological threshold of $ 30,000 for the first time since June 2022.