Thomas Lee: Ethereum[ETH] about to make a trend reversal, could reach $1900 by the end of the year
Fundstrat Head of Research. Thomas Lee, sent a mail to his clients saying that a massive trend reversal for Ethereum is underway, reports Bloomberg.
Thomas Lee noted, that there is an overtly strong negative sentiment around Ethereum, which will the basis for the trend reversal in the near future. According to him, Ethereum has the potential to hit $1900 by the end of this year while Bitcoin has at $25,000.
Ethereum has taken a lot of beating this past few months. In the past 3 months, Ethereum has lost more than half of its total value. According to Thomas Lee,
“Ethereum is about to stage a trend reversal and rally strongly. Sentiment is currently overly negative”
According to Lee, whenever Ethereum has underperformed peers by two standard deviations, it has reversed those losses. Currently, Ethereum is trading at $230 and is showing strong bullish trends. Ripple overtook Ethereum twice for the second spot twice in the past week. The current market cap currently sits at $225 Billion.
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