Crypto strategists believe that current market conditions are presenting an opportunity to Ethereum.ETHFor a parabolic surge towards the end of the calendar year.
Inmortal, a pseudonymous analyst, tells his 214.800 followers via the social media platform X, that Ethereum is likely to consolidate in the next few months between $4,000-$2,800.
The trader shows a chart which suggests that Ethereum is set to experience a long-term parabolic upswing starting in the month of October. This will lead to ETH reaching a new high around $8,000.
“Capture this.
ETH.”
Ethereum’s value is $2,903 at the time of this writing. This represents a drop of over 4% in one day.
Solana, the Ethereum competitor (SOLInmortal thinks that the altcoin with a large market cap is in danger of experiencing much lower prices, unless it rallies past $160 for a bullish structure.
“Bulls defending $120 level, taking no prisoners. I don’t want to see the bouncing ball structure develop. A higher high would be key.”
SOL’s current price is $130. This represents a drop of over 8% for the day.
The meme symbol Floki is a good example of this.FLOKIIt is possible that the trader may think the altcoin has a similar bullish set-up to April 2024, when it briefly fell below the support level of $0.00016 and then rallied.
“FLOKI about to print the famous deviation + retest structure.”
FLOKI, at the time this article is written, has a value of $0.000135, a drop of over 10% from yesterday.
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Source: dailyhodl.com
