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Closely watched analyst and trader predicts massive rally for Ethereum amid bearish sentiment prevailing in crypto markets.
The pseudonymous analyst known as Credible Crypto tells his 223,500 subscribers that Ethereum is on the verge of a big push that has the potential to lift the main smart contract platform above $ 3,400.
“All in all, that makes the most sense to me. I think we are seeing some relief across the board in the coming weeks. One-touch invalidation of $ 1,720. ETH ”
At the time of writing, Ethereum is trading at $ 1,881 and a move to $ 3,400 represents gains of over 80%.
While Credible Crypto is bullish on Ethereum in the coming weeks, he believes that after the relief rally Ethereum will drop all of its gains and more. According to the crypto trader, the sale will be a implement for Ethereum and altcoins in general for a bullish reversal.
“ETH and alts make a lower low after the relief (rally) while BTC sets a higher low, effectively increasing dominance for the final push before the reversal.”
The shopkeeper too highlighted that in his opinion, the crypto bull market is definitely not over.
“We are in a bull market. This is a correction in the middle of a bull market …
Every bull run has periods of upward consolidation. This is necessary and healthy for continued expansion. Each bull cycle has also lengthened in my opinion. It is therefore natural that this one takes longer than the previous one and therefore natural to see longer consolidation periods. “
As for Bitcoin, Credible Crypto says it continues believe in the long-term potential of the main cryptocurrency.
“Don’t think I’ve seen so much salt and frustration from bears in my comments since the covid crash in March lol. We know how it went. Bitcoin has gone up 10 times from bear market troughs and the bull run is not over Life is good Cool the bears. BTC. “
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
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