A renowned crypto analyst, Altcoin Sherpa, believes Ethereum (ETH) is poised for a significant rally against Bitcoin (BTC).
ETH/BTC Outlook
According to Sherpa, the ETH/BTC pair is “holding up well” and presents opportunities for long positions. He anticipates the approval of spot Ethereum ETFs by the SEC, which could further fuel the rally.
Sherpa predicts that ETH will reach its all-time high against BTC before the end of the year, representing a potential 187% increase from current levels.
Bitcoin Analysis
Regarding Bitcoin, Sherpa notes that the price remains within a long-term range between $73,000 and $56,000. However, he cautions that the short-term outlook appears bearish.
Altcoin Prospects
Sherpa believes that altcoins will continue to decline in the near term. He suggests that a bullish phase for altcoins could begin in approximately three months.
Conclusion
Altcoin Sherpa remains optimistic about Ethereum’s prospects against Bitcoin and anticipates a positive fourth quarter for altcoins in general. However, he advises investors to conduct their own research before making any investment decisions.
