Cryptocurrency Trader Claims End of Ethereum Accumulation, Foresees Surge for Competing ETH Asset
2 min read
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An esteemed cryptocurrency analyst is of the opinion that after an extended consolidation phase, Ethereum (ETH) has embarked on an upward trajectory.
The analyst, known by the pseudonym Inmortal, informed his 206,500 Twitter followers about ETH’s decisive move out of its former trading boundaries, having successfully tested the just above $2,000 price point several times in recent months.
“Good morning sweetie, the bear market gathering phase has finished.”
As of the current update, Ethereum’s market price stands at $2,670, recording an over 6% rise in the past day.
Furthermore, the market expert expresses sentiment that there is a synchronized price movement between Ethereum competitors Solana (SOL) and Avalanche (AVAX), exhibiting optimism towards both digital assets.
“If SOL rallies, expect AVAX to follow suit. It’s like reflex.”
At the moment of writing, SOL is valued at $113.94, while AVAX trades at $41.27.
The strategist also shares a positive outlook on the open-source gaming blockchain, Beam (BEAM).
“My holdings in BEAM have seen an uptick.”
Analyzing his graph, he suggests BEAM is trending upwards after pivoting from its lower trading boundary around $0.0170.
Currently, BEAM is priced at $0.0294, having surged more than 14% in the preceding 24-hour period.
In his latest analysis, the analyst predicts a significant surge for Bitcoin (BTC), assuming an influx of retail investors similar to the one witnessed in 2021.
“We’re at $48,000 with no new entrants in crypto, just hanging around. Just imagine the climb when the general public jumps in like in 2021. We are headed for higher grounds, and it’s going to happen shortly.”
Bitcoin is currently exchanged for $49,777, with an increase of over 3% from the last day.
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