A closely followed crypto trader is predicting an explosive move to the upside for Ethereum (ETH) while warning of a possible near-term dip.
Pseudonymous crypto analyst Inmortal tells his 194,000 Twitter followers that Ethereum could shoot up by more than 170% from its current value of $1,901, hitting a new all-time high.
However, he is warning that there may first come a dip after Ethereum crosses the $2,000 level. He says a similar pattern formed in 2019 when ETH dipped after rallying to the $400 level.
“My only fear with ETH.”
Looking at his chart, the trader is predicting Ethereum could reach $5,200 by September 2024.
Another altcoin on the trader’s radar is the decentralized oracle network Chainlink (LINK). He says LINK is in a consolidation phase around the mid-$7 range and will soon likely break to the upside.
“One day, LINK marines will wake up again.”
Chainlink is worth $7.31 at time of writing.
Lastly, Sherpa says he believes it’s only a matter of time before Bitcoin (BTC) breaks its resistance around the $28,600 level, which he says will trigger fear of missing out (FOMO) among investors, sending it even higher.
“I think BTC is going to print a god candle in the not too distant future. That’s where the real FOMO will begin. This is not an advice, it is not an analysis, it is just a hunch.”
Bitcoin is trading for $28,196 at time of writing.
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The post Trader Forecasts Ethereum Explosion to All-Time High – But Issues Near-Term Warning on ETH appeared first on The Daily Hodl.
