Ethereum Prepares for a Rally against Bitcoin: Prophet Analyst Gives Price Target - Coin Bulletin

Crypto analyst Pentoshi predicts that Ethereum is ready for a major rally against Bitcoin and the dollar, with ETH/BTC potentially climbing up to 0.4597 BTC.

Pentoshi, a top analyst known for his accurate predictions in the cryptocurrency market, stated that Ethereum (ETH) has the potential to make a big rise against Bitcoin (ETH/BTC) and the dollar.

The analyst who commented on X emphasized that the ETH/BTC pair started to rise after strongly holding its support at 0.30 BTC, and highlighted that this pair could climb up to 0.4597 BTC.

Pentoshi expressed that Ethereum's performance against Bitcoin has shown a promising start and stated that he is optimistic about reaching the target. Currently, ETH/BTC is trading at 0.0373 BTC, which is approximately $3,563.

Pentoshi also mentioned that it is possible for Ethereum to surpass the $4,000 level, with regard to Ethereum's value against the US dollar. The analyst, who believes that it could reach this year's highs or even higher levels, also noted that this situation could overlap with the ETH/BTC target.

In addition, Pentoshi, who believes that investors investing in ETH-based exchange-traded funds (ETFs) will increase the price of ETH, stated that the investment flows of these ETFs could reach several hundred million dollars.

Pentoshi, especially noted that BlackRock's Ethereum ETF has achieved a trading volume of $91 million in recent weeks and that such large transactions could increase further in the future.

Finally, Pentoshi also said that it carefully monitors the native asset of the graphics processing unit (GPU) network called Render (RENDER). The analyst reported that RENDER showed an increase by turning the critical resistance level of $8.10 into support and confirmed this on the four-hour chart.