Smart Trader Flips 0.2 ETH into Massive Gains: Is Analyst’s 200% Ethereum Price Prediction Next?

An anonymous trader made a surprisingly lucrative trade with a little-known cryptocurrency called DZHV. According to a tweet by onchain analytics firm, Lookonchain, in just two days the trader managed to turn 0.2 ETH (worth $635 at the time) into 69.8 ETH (worth $226,400).

The trader originally purchased 6.47 million DZHV tokens on February 26. DZHV is a new token that was launched on January 29 but until now has seen almost no trading volume or activity. However, coincidentally right after this one trader bought the tokens, DZHV’s price skyrocketed by 82,220%.

Expert Predicts 200% Ethereum Price Rally

In his technical analysis, expert trader GertvanLagen laid out a bullish case for Ethereum’s price over the next few months. He believes ETH has completed a “sharp correction” after its initial price impulse, losing over 90% of its value from peak to trough. Now, he expects a new “momentum impulse” that could carry ETH up 200% from current levels to a new all-time high between $26,500 and $27,000.

His invalidation point for this forecast is any decisive move below the prior correction low of around $400. So far ETH is holding support there, backing his projection of accelerating upside ahead.

Analyst Confident in Ongoing Ethereum Dominance

Veteran crypto strategist kimmyboy2 also commented on Ethereum’s market strength this week. He pointed out that Ethereum’s dominance versus other crypto assets remains firmly situated around its key Fibonacci level at 61.8% – exactly as he had forecast over a month ago.

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With ETH dominance showing no signs of faltering from this crucial technical area, kimmyboy2 said he remains confident that there will be no changes to this altcoin market structure anytime soon. He concludes that Ethereum retains its solid leadership position and expects its dominance to persist, fueling further continuation of the current altcoin season.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.