A prominent crypto trader has voiced optimism about Ethereum (ETH) compared to Bitcoin (BTC).

In a recent strategy session, the pseudonymous crypto analyst known as Altcoin Sherpa informed his 217,800 followers on the social media platform X that the ETH/BTC pair is “showing resilience.”

Sherpa noted that the current positioning of the ETH/BTC pair offers favorable conditions for long-term opportunities, particularly with the potential approval of Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

“ETH hitting all-time highs is almost certain by year-end.”


Source: Altcoin Sherpa/X

As of the latest update, Ethereum is trading at 0.05457 BTC ($3,142), marking an increase of approximately 187% to reach the all-time high of 0.15636 BTC recorded in November 2021.

Turning to Bitcoin, Sherpa commented,
“The price remains within a high-range timeframe between $73,000 and $56,000, though short-term prospects appear bearish.”


Source: Altcoin Sherpa/X

Sherpa concluded his analysis by suggesting that an optimistic phase for altcoins could potentially commence in about three months.

“Altcoins continue to experience a sell-off, and I don’t foresee an end in sight. I never quite understood the optimism surrounding a potential alt season during the summer. Perhaps there’s a chance with the ETH ETF bids, but generally, a robust BTC is necessary for such a scenario. It’s a possibility, albeit I remain cautiously pessimistic. It’s probable that we’ll see further consolidation over the next few months, followed by a promising Q4.”

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