Leading analyst predicts ambitious Ethereum targets of 7000 11000 and 15000

During the latest episode of Crypto Banter’s ‘The Sniper Trading Show’, the analyst began by assessing the audience’s enthusiasm and optimism regarding the current bull market. He then delved into the topic of market emotions and stages, highlighting that altcoins have not yet reached the ‘Hope’ stage but are still mired in disbelief. According to him, this indicates that the altcoin rally phase is on the horizon, typically occurring towards the tail end of a bull cycle.

Expanding on his analysis, the analyst expressed his belief that altcoins are on the cusp of a crucial phase in the market cycle and are primed to kickstart their rally, a sign that the later stages of the bull cycle are imminent.

Drawing attention to Ethereum, he noted that the cryptocurrency is currently hovering around 3.68 (Fibonacci levels), aligning with the $4,900 peak. By utilizing Fibonacci levels from the peak to the trough, he was able to derive all the essential levels for analysis. Breaking past the initial levels signified the next move, while failure to do so typically resulted in a retreat to the previous level, indicating where to re-enter if profits were taken at those junctures.

Setting his sights on Ethereum’s future, the analyst established price targets at $7,000, $11,000, and $15,000. He firmly believes that if this indeed proves to be a genuine bull run, Ethereum should hit the 3.618 Fibonacci level, a pattern observed in previous bull markets. Consequently, he is gearing up for a potential peak of $15,000, with interim goals set at $7,000 and $11,000. As of the latest update, ETH is trading at $3,698, experiencing a three percent decrease over the past 24 hours.

Despite his positive outlook, the analyst issued a cautionary note regarding the cryptocurrency market, cautioning that despite boasting billion-dollar market caps, the actual value may only amount to a fraction of that figure, roughly around $300 million. This disparity is a byproduct of the exuberance and frenzy within the market, leading to inflated prices.

Tags: Altcoins, Crypto news, Ethereum, Price Analysis.