Ethereum (ETH) and altcoins are poised for significant performance, a widely respected cryptocurrency analyst said.
Closely followed strategist Credible Crypto tells his 459,600 followers on social media platform
“I don’t think you can go to a wrong buying point at these levels. The macro/HTF (high time frame) charts look absolutely fantastic, and if correct, downside would be limited to a maximum of 10-20% and upside to 100%. Over 500% over the next few months (depending on how optimistic you are about future potential)…
If you can see a valid trade setup at the current level, take it (I have this and shared it live a few days ago). If not, you can buy spot and cool it down and if it gets down to $2,400-$2,800, you can take your trade setup out of that level.”
Earlier this week, traders predicted that ETH would reach a price tag between $10,000 and $20,000 by the end of the market cycle.
“ETH will likely return with a vengeance in the coming months, ironically leaving behind some of ETH’s strongest supporters (formerly .eth). I think $10,000 is the bare minimum for us to break through, and $20,000 by the end of the cycle is certainly not unreasonable.”
Ethereum is trading at $3,064 at the time of writing, down nearly 8% on the day.
Credible says the biggest altcoin season on record is approaching after cryptocurrency king Bitcoin (BTC) reached its peak.
“(I) don’t agree with the idea of ‘there is no replacement season’ at all. Do you know why there is a massive alt season? Because humans are greedy… That’s because. The biggest alt season we have ever seen tops BTC.”
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