Crypto Markets Bullish on Ethereum, Expected to Outperform Bitcoin Short-Term

While the current parabolic Bitcoin rally has caused the altcoin market to bleed out, many of the large cap crypto such as Ethereum recently bounced at long-term support, and are expected to rally significantly in the coming days as Bitcoin consolidates.

Crypto investors across the market are particularly bullish on Ethereum, which has been underperforming in recent weeks compared to Bitcoin and other cryptocurrencies. Targets of $300 or more to the upside are expected for the cryptocurrency created by Vitalik Buterin.

Collective Crypto Market: Ethereum Reached BTC Ratio Bottom, Time for Liftoff

Bitcoin’s recent rally was met with much disbelief, as the leading cryptocurrency by market cap made a powerful exit out of the bear market, confirming the bottom is in, and potentially reigniting a bull market in a matter of a little more than a month.

Related Reading | Will Ethereum Surge Past $300 When Bitcoin Finally Corrects? 

With such bullish sentiment back in the crypto market, and with Bitcoin price charts leading the way, potentially revealing how certain major altcoins might perform, has given crypto investors a boost in confidence surrounding Ethereum.

Reading through the collective comments and thoughts from crypto Twitter personalities to top-commented threads on crypto trading sub-Reddits, it’s clear that most of the market expects Etheruem to make a major rally in the coming days, both in terms of USD value, but even more so in terms of the cryptocurrency’s ratio relative to BTC.

Elliot wave theorists believe the cryptocurrency is about to start impulse wave three of five, taking the price of Ethereum to targets at $240, $300, $320, and then…

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