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Does the Ethereum Merge Narrative Have More Upside? Popular Crypto Trader Looks at State of ETH

A carefully tracked crypto strategist is addressing whether or not Ethereum’s (ETH) merge narrative is already priced in.

In a brand new technique session, pseudonymous crypto analyst DonAlt says he believes the narrative for ETH has not but totally performed out.

“I believe normally, it’s extra prone to go to $2,500 from right here than it’s to go to $1,100… It appears to be like actually good to me nonetheless even on the month-to-month [timeframe]. Oftentimes with these sorts of conditions, if my goal is $2,000 one thing on the month-to-month, that simply implies that I believe there’s a great likelihood we shut in that space, however we might wick greater. 

I believe there’s nonetheless room to go for ETH.” 

DonAlt additionally says that ETH’s latest correction after hitting $2,000 final month is one thing to be anticipated contemplating that Ethereum rallied by over 100% from its 2022 low of under $900.

“Trying on the chart, you will have a leg up [and] you will have somewhat little bit of a pullback. Compared to Bitcoin, which appears to be like completely atrocious… this appears to be like like a traditional orderly pullback from a resistance stage that you’d anticipate the pullback to come back from. That’s why I’m not too nervous.”

The crypto strategist can also be bullish on Ethereum towards Bitcoin (ETH/BTC). DonAlt tells his 422,600 Twitter followers that the pair has just about recovered all of its losses through the top of the crypto bear market.

“ETH replace:

Absolute unit, totally retraced the whole lot of the bear market (in relative phrases)

Don’t actually see a great purpose why that power would disappear anytime quickly.

Simply gonna be an ETH maxi till it begins dropping 0.066 [BTC] and goal new highs.”

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Supply: DonAlt/Twitter

At time of writing, ETH is valued at $1,573, up 1.38% on the day.

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