Trader Calls for Ethereum (ETH) to Increase 40% in November


It’s been a wild week for the crypto market as Bitcoin (BTC) jumped from $7,300 to around $10,500 before settling at $9,650, where it is currently trading.

Apart from some notable exceptions, most altcoins are still down against Bitcoin on the weekend, despite decent gains against the dollar. For example, Ethereum (ETH) has gained around 15% since Friday, but ETH/BTC is down around 12% over the same period.

ETH/BTC 4-hour chart (TradingView)

Despite Ethereum’s recent underperformance, Techemy Capital trader Josh Olszewicz thinks November is going to be a very good month for the largest altcoin.

In a recent tweet, Olszewicz called for an increase to $260, basing his assessment on Ethereum’s daily Ichimoku Cloud, which is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction.

A move to the top of the Ichimoku Cloud represents a 40% increase, and would likely require a significant move in ETH/BTC.

US investors looking to trade ETH commission-free and earn some free BTC can sign up for the Voyager app through this link (or use code: SLUDGE25).

More: Ethereum’s (ETH) Price and DeFi Fundamentals Don’t Match up
Report: Peter Brandt Believes XRP (XRP) Is Forming a Bullish Reversal Pattern

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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