Crypto trader DonAlt, known for his accurate prediction of a 700% move in XRP's price, has set a technical target of $10,000 for Ethereum. However, he himself plans to close his position as soon as $ETH reaches the $3000 mark.
According to DonAlt, on August 13, he opened a long position on $ETH at a price of around $1900. The trader admitted that buying at resistance levels during a market consolidation goes against classic technical analysis, but he feels "less comfortable not having a position than opening one at a price lower than optimal."
He added that he is ready to increase the size of his position if the price returns to the "green" support zone at $1700 per $ETH.
Responding to followers' questions, the analyst divided his expectations into three levels. Thus, DonAlt's official target is $4000, while his unofficial macro target is $10,000. In practice, however, he intends to take profits at the $3000 level, joking about his tendency to prematurely realize unrealized gains.
In reality, his calculation is quite reasonable and speaks to his extensive experience trading in the crypto market. While admitting the theoretical potential for $ETH to reach five-figure levels, an experienced trader would prefer to secure a 57% profit rather than wait for values that may never be reached.
As for Ethereum's price, it has long been closely correlated with Bitcoin's price and seems to have lost its own growth catalysts. Some banks are leaning towards creating their own private blockchains or choosing more innovative networks with high scalability and low fees.
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