Ethereum has undergone a strong rejection since reaching the summer highs of $490. The leading cryptocurrency fell from those highs to a recent September low of $315, liquidating many investors in the process.
While the cryptocurrency remains on shaky footing, Ethereum is expected to move dramatically higher in the months ahead.
Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Ethereum Is Poised to Move Parabolically, Trader Says
One crypto-asset analyst recently noted that Ethereum’s macro price action since the start of 2017 looks eerily similar to that of gold from 2007 until now. This fractal analysis predicts that should ETH follow the path gold took, the cryptocurrency will soon enter a parabolic ascent that will bring it towards all-time highs.
The analyst that shared this analysis is the same one that in the middle of March predicted Bitcoin would see a V-shaped reversal and hit $10,000 by May or June. He was proven correct just