Ethereum is ready to experience a “trend reversal and a strong rally,” says Fundstrat analyst Tom Lee.
In a note to the clients of Fundstrat Global Advisors, Lee writes that the perception of Ethereum on the market turned out to be “too negative”, which allows us to count on a confident recovery in the near future.
In her forecast, Lee also refers to historical data on the behavior of Ethereum, and notes that periods of steady growth followed the segments when the Crypto Currency showed a significant lag in comparison with other assets on the market.
Lee argues that Ethereum was “crushed” by the big offer of the EOS project, which raised $ 4 billion in the crypto currency in the course of the ICO, which lasted a year, as well as “panic sales” of other ICO teams, CNBC reports.
In January, when Ethereum cost about $ 1,000, Lee said that the price of the crypto currency will reach $ 1,900 by the end of the year, that is, it will be at least 40% higher than its current historical maximum of $ 1,349, set January 13. This Friday, Ethereum costs $ 230, that is, it should grow by 726% in 3 months, so that Lee’s prediction will come true.
In July, Lee also confirmed his forecast on bitcoin, adding to it the lower limit and saying that before the end of the year the currency will trade between the levels of $ 22,000 and $ 25,000. He later noted that bitcoin “can finish the year significantly higher” its current values, referring to the correlation between the crypto-currencies and the markets of developing countries.
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