A popular crypto analyst says it’s probably Ethereum’s (ETH) time to shine and its biggest rival is headed for a parabolic run.
Pseudonymous trader Inmortal tells his 213,900 followers on social media platform X that Ethereum will rally and leave many traders on the sidelines.
The analyst outlines an initial target of around $4,000 with a chart suggesting ETH found support around the $2,800 level.
“ETH season is about to start.
Fueled by disbelief, like all the other times.”
At the time of writing, Ethereum is trading at $3,107.
The analyst also has his eye on Ethereum rival Solana (SOL). According to Inmortal, Solana is looking similar to the 2021 Ethereum market cycle so far, and if SOL were to continue, it could trade well above $360 later this year.
“ETH 2021 vs SOL 2024”
SOL is trading at $177.54 at the time of writing.
Looking at Bitcoin (BTC), Inmortal says the crypto king is currently in a range between $74,000 and $56,000. If BTC manages to convincingly hold the $66,000 level, the trader says another run to record highs is possible.
“BTC KEY levels.
Price rejected at the first resistance level (middle range)
> IF the price manages to regain the mid-range, THEN the top range ($74,000) is on the table.
> Below the blue box = bad
Very easy.”
At the time of writing, BTC is trading at $67,024, slightly above Inmortal’s mid-range.
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Generated image: Midjourney