Ethereum, the second-biggest cryptocurrency in by market capitalization, was projected by several analysts to see strong gains in the upcoming few months.
DonAlt, a popular cryptocurrency analyst, said on Twitter a previous prediction for a surge by 100% in the cryptocurrency’s price may reoccur this year. He added that Ethereum price could move within a range between support and resistance levels of $130 and $268, respectively, until 2021.
Analyst Manu Naik also said that the ETH/USD 1-day chart was in a falling direction, with an upside potential of 68% to $240 by mid-January.
For his part, analyst Scott Melker said he believes Ethereum is set to outperform Bitcoin at the moment, adding that the current situation sees Ether rebounding upwards off significant support, thus becoming well-positioned to go higher.