Ethereum is predicted to grow by 35% in the near future

A crypto analyst under the pseudonym Pentoshi has published a forecast of the future value of Ethereum (ETH). According to the expert, the main altcoin is preparing for significant growth after the successful completion of a long consolidation phase.

As Pentoshi told his 742,000 subscribers on the X platform, Ethereum is on its way to the $ 3,500 range. «ETH. We have moved into the mid-range. Expect a higher range at the beginning of the first or second quarter,» the analyst wrote.

At the time of writing, ETH is trading at $ 2,530. As a reminder, after the U.S. Securities and Exchange Commission (SEC) approved spot ETFs on bitcoin, the value of ethereum rose above $ 2,350, surpassing the growth of bitcoin.

Pentoshi is also keeping an eye on ETH’s biggest competitor, Solana (SOL). According to the popular analyst, SOL, which had a dramatic rise in the second half of 2023, should consolidate for a while before making new moves.

He pointed to the $ 70 level as potential support for Solana. «SOL. I think it will just take some time to play out. For now, we are following the undulating [лінією]. Although there is support a little bit lower here where it bounced, I think there should be at least a 30-day consolidation somewhere. Even if we don’t see the $ 70 area.»