The trader who correctly called a 2022 collapse for Bitcoin (BTC) thinks Ethereum (ETH) is poised to bounce back to all-time highs.
Capo, a pseudonymous analyst, told his 847,900 followers on social media platform
“ETH “It looks good that the strength will continue.”
Based on the trader charts, he appears to be predicting that Ethereum will rise to $4,100 before undergoing a slight correction and moving towards an all-time high of around $4,900.
As of this writing, the value of Ethereum is $3,683, down slightly over the past day.
Looking at the broader cryptocurrency market, Capo said last Friday’s market-wide correction was most likely a selling event designed to wave weak hands. According to analysts, if BTC remains above $69,000 and ETH trades above $3,600, the cryptocurrency will see another uptrend.
“Strong sell on support. Alts have suffered more, but to be honest, they seem to be shaky. “If these support levels hold, we could soon see continued strength.”
As of this writing, Bitcoin is worth $69,429.
Capo also said he still believes the altcoin will spark a surge this month, even after last Friday’s correction.
“I think June could be a really good month for altcoins.”
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