Crypto strategist and trader Scott Melker says that he believes Ethereum will ignite a meteoric rise and exceed even the most bullish expectations before 2021 expires.
In a new video, the trader says that Ethereum (ETH/USD) has broken out of a bullish continuation pattern after months of consolidation.
“As I said just the other day, I showed the target of $3,600 which I believe is actually somewhat conservative. How did I get that target? We have this massive bull pennant here… To get the target of the bull pennant, you measure the flagpole, that’s this entire move and you extrapolate that from the breakout to the top.”
Melker highlights that he believes Ethereum can soar way higher than his initial target.
“This move’s target is $3,600 but as I said, I think it can go much higher and I believe as a result of the network effect and overall bullishness, it can go as high as $10,000 even