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Ethereum (ETH) has been a sluggish performer for much of the past year, but a significant change seems to be brewing. In just the last 30 days, the asset has surged by an astonishing 44.2% to reach $3,640.83, suggesting that the world’s second-largest cryptocurrency is poised to finally make some real gains.
The recent price action signals a strong short-term trend reversal, as ETH is expected to ride the wave of this altcoin season. Colin Talks Crypto, a well-known crypto chart analyst, has also chimed in with a bold forecast, predicting that Ethereum could hit $20,000 in the upcoming bull run.
This prediction takes into account long-term trend lines and past cycle behavior, suggesting that ETH may have more room to grow than it initially seemed. While no one can predict the future with absolute certainty, there is certainly cause for optimism here.
ETH has already gained over 50% in a mere 30 days, which is nothing short of remarkable. This recent surge can be attributed to renewed investor interest, institutional accumulation, and the broader bullish market sentiment that has taken hold of the crypto space.
This trend could potentially continue as more institutions seek refuge from Bitcoin’s volatility by moving their funds into ETH.
Source: coinpedia.org
