Ethereum Dip Is An Opportunity, Massive Boom Incoming For ETH

The crypto market is suffering another correction at the moment, and the most important coins are trading in the red. At the moment of writing this article, ETH is trading in the red and the coin is trading at $2,900.

It’s been revealed that a popular crypto analyst is bullish on Ethereum (ETH) and singles out one altcoin that might outperform other large-cap crypto assets.

Pseudonymous crypto trader Smart Contracter said that Ethereum retracing to slightly above $3,000 after surging to a high last reached in mid-January is an “opportunity.”

Smart Contracter said that his bullish thesis is built on Ethereum’s price is resting above the major moving averages (MA), including the 50-period MA on the four-hour chart.

“Lot of people freaking out again here but I’m liking ETH. Already cleared all the major four-hour moving averages and looks like a nice clean test of the 50 MA here. Viewing the trend as up at the moment and this dip as an opportunity.”

The optimistic predictions about the price of the most essential coins out there keep flowing. Check out the latest ones about the prices of Bitcoin and Ethereum below.

It’s been revealed that an analyst at a leading independent research firm believes the top two cryptos are undervalued and they are primed for major price increases later this year.

In a new FS Insight report, Fundstrat Digital Asset Research’s head of digital asset strategy Sean Farrell addressed the fact that Bitcoin (BTC) has moved past the stage where cycles determine its price.

Regarding the price of ETH, the analyst said that it’s still undervalued:

“We applied a similar analysis to ETH (based on inflows and estimated MVRV) to arrive at a price target of $12,000.”

Stay tuned for more news, and also make sure to keep your eyes peeled on the crypto market as well.