A closely followed crypto analyst says that Ethereum (ETH) may be gearing up to print fresh all-time highs.
In a new thread, crypto trader Michaël van de Poppe tells his 803,300 followers on X that ETH may be on the verge of testing its all-time high level of around $4,900, after retesting key support levels in the low $4,000 range.
The analyst also says a strong ETH rally may ignite breakouts for other altcoins.
“A massively strong chart on ETH. It should signal that, if we create an HTF (high timeframe) on lower timeframes, we’re ready for another test of the highs. That test of highs should ultimately result in higher returns on altcoins.”
ETH is trading for $4,706 at time of writing, up 10.7% in the last 24 hours.
One altcoin on Van de Poppe’s radar is Theta Network (THETA), a peer-to-peer distribution platform for video content. According to the crypto strategist, THETA could surge to his target price of $3 if the altcoin convincingly bounces off the $0.783 level on the weekly chart.
“The time for altcoins is around the corner. That’s why I look at fundamentally strong projects that keep building, as that provides an arbitrage opportunity to the fair price.
THETA is such an example. Back to the lows on higher timeframe support, the final consolidation before it breaks the EMA-20 (20-period Exponential Moving Average) and then we’re good to go towards the other side of the range: 250%+. Massive partnerships, their product is getting a lot of interest, good stuff.”
THETA is trading for $0.828 at time of writing, up 6.3% in the last 24 hours.
Another coin on Van de Poppe’s radar is the decentralized oracle network Chainlink (LINK). The analyst believes LINK may break through its all-time high of about $53 within a year.
“Very pleased to see the strength on LINK. It was an opportunity of a lifetime at $6 and I think it’s a core one to have in a portfolio. It’s in a bull trend upwards, and I think we’ll see new ATHs (all-time highs) for LINK in the coming year. Great progress.”
LINK is trading for $27.54 at time of writing, up 9.3% in the last 24 hours.
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