Top Trader on Binance Predicts Ethereum and This New Crypto Asset Are About to Explode

A leading trader on the crypto exchange Binance is predicting that Ethereum (ETH) will hit a new all-time high in the coming weeks.

Logan Han says ETH appears ready to turn a historic line of resistance at $372 into support, setting the stage for a long-term move to the upside. He believes the second-largest cryptocurrency could skyrocket above $2,000 in early 2021 – representing an increase of nearly 420% from its current price of $386.

Source: Logan Han/Twitter

Logan Han is not the only analyst who’s bullish on ETH. Closely-followed trader Bitcoin Jack agrees that the second-largest cryptocurrency printing a new all-time high (ATH) at the start of next year is within the realm of possibility.

“Ethereum new ATH is programmed Q4 or early next year is not impossible.”

Source: Bitcoin Jack/Twitter

Logan Han is also keeping his eyes peeled on a relatively new decentralized finance (DeFi) asset (YFII).

According to the crypto strategist, the YFII/USDT (Tether) pair is in a position to surge above $9,500 and generate returns of over 300% before the end of October.

“YFII about to moon in my opinion.”

Source: Logan Han/Twitter

Logan Han’s extremely bullish sentiment on YFII comes just as the volatile nascent sector is emerging from a brutal corrective period that saw the value of DeFi darlings such as (YFI) nosedive over 70%. Kelvin Koh, an executive at cryptocurrency investment firm Spartan Group, says that the deep pullback is healthy for the long-term sustainability of the DeFi market.

“I am glad we went through that big DeFi correction. As painful as it was, it accomplished a few things:

1. Washed out the weak hands

2. Gave us a sense of where value for DeFi assets are in a big drawdown

3. Hopefully killed off random food coins offering 10000% APY farming.”

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