Ethereum Could Almost Double its Price This Year: Analyst

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A notable cryptocurrency analyst has projected double-growth for Ethereum in the second half of 2019.Jacob Canfield, the co-founder of SignalProfits.com, predicted Ether at circa $546 based on the asset’s historical price moves dating back to 2017. The analyst noted that the Ether price is trending inside a Rising Channel that looked strikingly similar to a channel that formed between June 2017 and early December 2017. The ETH/USD rate in 2017 posted 186.58 percent gains inside the Rising Channel. The pair later broke out and settled its all-time high of $1,419.48 on US-based exchange Coinbase, as shown in the chart below.Ethereum Price Mirroring an Old Bullish Move | Image Credits: Jacob CanfieldThe [Expected] ETH Price ActionCanfield speculated that the Ether price would repeat the scenario; it would trend inside the new Rising Channel until mid-June before attempting a breakout towards $308.39. The rate would then undergo a correction towards the apex…

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