Top altcoin Ethereum (ETH) is gearing up for a massive rally later this year, a widely respected cryptocurrency analyst said.
In a new thread, anonymous cryptocurrency trader Credible Crypto told his 453,200 followers on social media platform
‘(Ethereum) is gearing up for a face-melting rally later this year. Be patient and take advantage of the downturn now. If we are successful, $2,500-$2,800 is the dream buying zone.”
Credible Crypto points out that Ethereum has almost reached its downside target.
“I’m now about 80% of my downward goal. We’ve seen some LTF (sub-period) absorption here, so we may feel some relief before the bottom. Let’s see.”
Looking at the trader’s chart, he seems to be predicting that ETH will fall to the $3,000 support level.
Ethereum is trading at $3,255 at the time of writing, a slight decline over the past 24 hours.
Moving on to dog-themed memecoin dogwifhat (WIF), traders say they ultimately saw the meme asset plummet below a psychological price range.
“My last post (related to WIF) was that it looked weak so I closed the buy at $2.85. I was hoping to get down to $1 and move to an equal high, but we melted. It’s currently trading in a mid-range that provides some relief, but we don’t want to crave it any longer.
“I’m surprised we’re left with such highs, so I might go back, but I think we’ll eventually see sub-$1 sooner rather than later.”
WIF is trading at $1.50 at the time of this writing.
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