According to the cryptocurrency expert Crypto Kaleo, Ethereum has the best chance of returning to its previous highs.
He said this in a recent tweet on ETH 2.0. It is time to determine how Ethereum will behave and if this currency can reach new heights.
In a recent post on Twitter, Crypto Kaleo discussed the likelihood of Ethereum achieving a new all-time high this year or shortly. If Bitcoin reaches $32,000 and the ETH/BTC trading pair retests its previous all-time high of 0.15 before the integration, then the price of Ethereum might approach $4,800, according to him.
According to the analyst, if ETH approaches these levels, it may be able to see the narrative reversal on crypto Twitter or among cryptocurrency fans on social media. However, he notes that if we reach that point, we should consider taking gains since this would likely be the euphoria’s pinnacle.
The analyst proceeded by stating that it is more probable that Ethereum would encounter resistance at a market capitalization ratio all-time high of 0.72. This would correspond to an ETH/BTC ratio of around 0.112 BTC and an ETH price of $3,600, assuming a Bitcoin price of $32,000.
Crypto Kaleo posted the following on Twitter: If anything has a possibility of returning to previous highs, it is ETH. If BTC reaches about $32K and ETH/BTC manages to retest the old ATH of 0.15 before the merging, the ETH price might get $4800.
Recently, the price of Bitcoin briefly surpassed $24,000, and the currency is currently highly close to $23,800. This has also contributed to Ethereum’s 10 percent gain over the last week, almost twice the growth Bitcoin achieved over the same timeframe. In contrast, Ethereum has a price per coin of $1,700 and a market worth of $204 billion (44 percent of the market capitalization of Bitcoin).
Also Read: Aave DAO Approves The Development Of The GHO Stablecoin
Wallets