A Crypto Analyst Predicts a Massive Rally for Ethereum
A well-known crypto trader suggests that Ethereum (ETH) is preparing for a significant upward movement that will surprise many investors. Inmortal, a pseudonymous crypto analyst, believes that ETH could reach the $3,000 mark, representing a more than 34% increase from its current value.
The analyst shared a chart comparing ETH’s current price pattern to a historical Bitcoin (BTC) price pattern, indicating that ETH is on the verge of a major rally. According to the chart, ETH is expected to surpass a key resistance level at around $2,400 and establish it as support.
In addition to his Ethereum prediction, Inmortal also suggests that Ethereum will break out of a descending triangle against Bitcoin (ETH/BTC) and reach 0.069 BTC ($2,926) next month.
Currently, ETH/BTC is trading at 0.05251 BTC ($2,228).
Bullish Outlook on Solana
Inmortal also expresses optimism about Solana (SOL), a competitor of Ethereum. According to his chart, he predicts that SOL will surge to around $500, marking a more than 350% increase from its current value by early 2025.
At the time of writing, Solana is trading at $111, experiencing a 6.6% decline in the last 24 hours.
Hot Take: Ethereum’s Potential Upside
A prominent crypto analyst predicts that Ethereum is on the cusp of a significant rally, potentially pushing its price to $3,000. Comparing ETH’s current price pattern to a historical Bitcoin pattern, the analyst suggests that ETH may surpass a key resistance level and establish it as support. Furthermore, the analyst expects Ethereum to break out against Bitcoin and reach 0.069 BTC next month. The analyst also expresses optimism about Solana, predicting a substantial increase in its value by early 2025. These predictions indicate potential opportunities for investors in both Ethereum and Solana.
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