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Ether (ETH) could be set for a significant price increase, according to predictions from independent traders Poseidon and MaxBecauseBTC. ETH had a small 1% rise in October and took in $4.4m in new money, while Bitcoin enjoyed a 14% rise and accepted in $893m. However, quick bounce-backs and steady growth could signify a reversal in ETH’s fortunes. Resistance at $2,800 could lead to short-term costs being disbursed over a longer period, while a strong showing on the Bollinger Bands could also hint at an imminent price surge.

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Ether (ETH) hasn’t been smashing records lately. In comparison to Bitcoin’s 14% rise in October, ETH managed a humble 1% increase. Plus, it’s not been the hot pick for investors, with the ETH exchange-traded fund getting about $4.4 million in new money at the end of October, a lot less than Bitcoin’s $893 million. But this might change soon. An independent trader, Poseidon, thinks Ethereum’s rocky times are over. Last weekend, the cryptocurrency dropped to $2,382 but bounced back above $2,500 pretty quickly. With this fast recovery, Poseidon believes that Ethereum has passed its lowest point and is on the way up. He even said he’d invest more, so long as it stays above $2,600 – he thinks this may lead to a bigger increase in Ethereum prices. According to his calculations, if you invested at $2,500, you could make an 88% return on investment. That means Ethereum could hit a new record high in no time. Someone else who analyses crypto trends, who goes by the name MaxBecauseBTC, also thinks the ETH/Bitcoin chart is on the verge of a big change. He spotted that most transactions between the two have taken place at the current level since 2016, which might indicate that prices could swing sharply in a new direction. Ethereum’s technical details also look promising. It’s been slowly but surely climbing up. It might rise to the $2,550-$2,600 range again for a retest and the general formation is one of steady growth. If it can nudge past resistance at $2,800, its short-term goal would be to flip the average cost over 100 to 200 days, which would be a good sign for prices. Its “strength level” is pretty healthy too, sitting above 50 but less than 70. This suggests that it’s a good time to buy without pushing prices up too much. There’s a chance of less price bouncing over the next few days because of convergence in the Bollinger Bands, a technical analysis tool. But prices could shoot up fast if Ethereum ends a day above $2,800. Just a reminder: as with any financial stuff, remember to do your own research and weigh up the risks before investing! Source: Cointelegraph