A widely followed crypto analyst says that Ethereum (ETH) could go from $4,000 to $5,000 in a move that takes a matter of days.
Pseudonymous crypto trader Inmortal tells his 220,900 followers on the social media platform X that he expects the top smart contract platform to hit new all-time highs with haste.
“It took 27 days to go from $3,000 to $4,000. It will take only a few days to go from $4,000 to $5,000. ETH.”
Looking at the trader’s chart, Inmortal expects Ethereum to shatter the $4,800 barrier.
Ethereum is trading for $4,014 at time of writing, down about 18% from its all-time high of $4,848 which it hit in November of 2021.
The strategist goes on to note that Ethereum in its Bitcoin pair (ETH/BTC) appears to have printed a cycle bottom after touching a support level following a lengthy downtrend.
“Imagine being bearish after 1,300 days of downtrend. The same people who hate ETH now [are the] same people who hated [Solana] in 2022. Just my opinion.”
ETH/BTC is valued at 0.03996 BTC ($4,003) at time of writing.
Moving on to the crypto king, Inmortal says that Bitcoin should sustain upward momentum despite dipping after reaching the $100,000 milestone for the first time ever last week.
“$6,000 wick. That was your dip.”
Bitcoin is trading for $100,223 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxGenerated Image: DALLE3