As the cryptocurrency markets continue on their way to recovery, the industry anticipates breakouts in the near future that may affect the recovery. In the middle of the speculation, a prominent crypto expert said that he expected ETH to make a breakthrough from present levels, further underscoring the circumstances for a $4,800 peak.
The renowned cryptocurrency analyst Crypto Kaleo turned to Twitter to discuss the market. The unidentified crypto trader told his massive following, “If anything has a possibility of returning to the highs from here, it’s ETH.”
As the Merge approaches, Kaleo said that ETH might return to $4,800 levels if certain criteria are satisfied. According to him, if BTC can recapture the $32k zone and the ETH/BTC pair achieves its old ATH of 0.15 before to the Ethereum Merge, the ETH price will approach $4,800. The current price of ETH is 0.085 BTC.
“I don’t believe we see much beyond there, but the excitement of the flipping story will be the only thing you see on the timeline if ETH reaches anywhere near to those levels,” Kaleo continued, recommending his followers to grab gains if such levels are achieved since the community would be “at peak ecstasy” then.
In addition, Kaleo said that the highlighted levels are more likely to materialize if the ETH/BTC market cap ratio encounters resistance at an all-time high of 0.72 – a 56% rise from the ratio’s current value at the time of writing.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.