\n<\/p>\n
\n\t\t\t\t\t\t\t\t\tThe analyst says a drop below $1,388 could undermine the technical setup behind the long-term bullish thesis. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ethereum (ETH) could reach $20,000 in the next few years, according to Credible Crypto.<\/p>\n
The premise for his thesis lies in ETH\u2019s trading range of five years, weak relative performance vis-\u00e0-vis Bitcoin (BTC), as well as a potential rotation into higher-risk assets.<\/p>\n
As explained<\/a> by the analyst in Sunday\u2019s episode of the No Bs Crypto podcast, ETH has been trading in a range of around $1,500 to $5,000 for about five years now, the token having touched both ends several times in the process, forming what he considers a large higher timeframe range.<\/p>\n Additionally, while Bitcoin is trading above the 2021 high, Ethereum is lagging behind, and according to Credible Crypto, the ETH\/BTC ratio has reached such levels that it can allow ETH to catch up with BTC.<\/p>\n His basic target is $10,000. He argued that doubling Ethereum\u2019s previous range high near $5,000 would produce that level, while a larger range expansion could push ETH toward $8,000 and $9,000 even before we consider other factors.<\/p>\n The $20,000 target will rely heavily on Bitcoin\u2019s price. If the BTC price stands at about $80,000, where it is currently close to, with ETH\/BTC recovering back to its earlier high of 0.156, then Credible says Ethereum will hit above $12,000.<\/p>\n \u201cNow, if we take a more optimistic scenario with Bitcoin at $100K, that gives us over $15,000 Ethereum,\u201d Credible told his host Kyren. \u201cAnd if we take the most realistic scenario, in my opinion, the Bitcoin highs at $126K will be broken and we\u2019ll actually trade above those levels. Now we\u2019re pushing $20K Ethereum and above.\u201d<\/p>\n<\/blockquote>\n The crypto trader also pointed to ETH\u2019s higher risk compared to Bitcoin, with that, in his view, creating room for the former to deliver a larger return during a bull cycle. But his technical case rests on Ethereum defending a higher-timeframe low near $1,388.<\/p>\n He believes a break below that level would invalidate the bullish structure. However, he considers a move below $1,500 increasingly unlikely and estimates there\u2019s maybe a 90% chance that ETH does not return below $1,900.<\/p>\n The latest market data gives the bullish case some context, as CoinGecko data shows ETH above $2,400 at the time of writing, up 3.5% in 24 hours and about 30% in seven days. In addition, it has gained more than 32% over 30 days but is still about 50% below its all-time high.<\/p>\n ETH\u2019s recent double-digit one-day pump has also attracted historical comparison, with market watcher Jamie Coutts noting<\/a> that several similar upticks in the past helped push up ETH prices as much as 60% higher within 180 days.<\/p>\n\n
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