A prominent cryptocurrency analyst says that now is Ethereum (ETH)’s time to shine and that its biggest competitor will go parabolic.
Household name trader Inmortal told his 213,900 followers on social media platform
The analyst suggests an initial target of around $4,000, with charts suggesting ETH has found support around the $2,800 level.
“ETH season is starting soon.
As in all other cases, distrust was triggered.”
As of this writing, Ethereum is trading at $3,107.
Analysts are also keeping an eye on Ethereum rival Solana (SOL). According to Inmortal, Solana has been similar to Ethereum’s 2021 market cycle so far, and could trade well above $360 later this year if SOL continues.
“ETH 2021 vs SOL 2024”
SOL is trading at $177.54 at the time of this writing.
Looking at Bitcoin (BTC), Inmortal says the cryptocurrency king is currently sitting between $74,000 and $56,000. If BTC holds firm at the $66,000 level, traders say it could see another rally to all-time highs.
“BTC KEY level.
Price rejected at the first resistance level (middle range)
> THEN range high ($74,000) is on the table if price regains mid-range.
> Below the blue box = Bad
“It’s very simple.”
As of this writing, BTC is trading at $67,024, slightly above Inmortal’s median price range.
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