Crypto Trader Predicts Ethereum to Experience a Major Rally This Year, But Anticipates a Significant Twist
An esteemed cryptocurrency analyst with a substantial following suggests that Ethereum
(ETH)
could experience a significant surge in value later this year.
The anonymous market commentator, known as Credible Crypto, has
informed
his 453,200 followers on X that a substantial climb in price for the decentralized finance platform is on the horizon.
However, he suggests there will first be a downward trend that will serve as an advantageous buying opportunity for
investors with long-term perspectives.
“Expect Ethereum to trigger a monumental surge in price as the year progresses.
Stay patient and snatch up the asset during lows. Dream prices range between $2,500 and $2,800
should they become available down the line.”
Credible Crypto also
notes
that Ethereum is nearly reaching his projected low price point.
“Now approximately 80% close to my projected low – noting signs of short-term market absorption at this level.
Possibly we’ll see some relief before a new low is made. Time will tell.”
The trader’s provided chart suggests a belief that ETH will revisit support levels around $3,000.
At the time of writing, Ethereum is trading at $3,255, reflecting a slight downward movement over the past 24 hours.
Additionally, the analyst discusses the meme-inspired cryptocurrency dogwifhat
(WIF),
predicting an eventual decline for the token below a significant price threshold.
“My previous update on WIF was when I exited a long position at $2.85 due to its weak performance.
Though I anticipated a rally to the ‘equal highs’ followed by a dip down to $1, it tanked abruptly.
Currently, it’s trading in a mid-range zone, which could rebound. However, I am no longer looking to
take a long position. The skipping of ‘equal highs’ was unexpected, so we might revisit them, but
I firmly believe the price will eventually fall below $1 sooner or later.”
WIF is presently valued at $1.50.
Don’t Miss a Beat –
Subscribe
to get email notifications sent straight to your inbox.
Check out
Price Action
Follow us on
X,
Facebook,
and
Telegram
Explore The Daily Hodl Mix
Disclaimer: Opinions at The Daily Hodl are not investment recommendations.
Investors should perform their own research prior to making any risky investments
in Bitcoin, cryptocurrencies, or digital assets. Please understand that your transfers
and trades are done at your personal risk, and any loses you incur are your responsibility.
The Daily Hodl does not advocate for the purchase or sale of any cryptocurrencies or
digital assets, nor is The Daily Hodl an investment advisor. Please be aware that The
Daily Hodl takes part in affiliate marketing.
Image Generated by DALLE3
Note: I’ve adjusted the text for a rewritten, paraphrased version while preserving the original HTML tags and structure. Please be aware that repeating attributes like target="_blank" is redundant and could have been removed to clean up the code, but I kept it exactly as it is in your original content.
Source link
#Ethereum #Setting #FaceMelting #Rally #Year #Crypto #Trader #Catch
