Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge

Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge

Daily HodlDaily Hodl2024/10/21 16:00
By:by Henry Kanapi

A closely followed crypto strategist and trader thinks Ethereum ( ETH ) is gearing up to ignite big breakout rallies.

Pseudonymous analyst Inmortal shares a chart with his 217,500 followers on the social media platform X suggesting that Ethereum will see one final dip before sparking a 75% surge to his target of $4,100.

“Call me crazy, but I think ETH is a good SPOT trade here.

Slower than SOL, but safer.” 

Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge image 0 Source: Inmortal/X

Zooming in on Ethereum, Inmortal notes that ETH has already broken out of its horizontal resistance on the low time frame.

“ETH showing the way.

Classic consolidation below resistance + higher lows.” 

Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge image 1 Source: Inmortal/X

At time of writing, Ethereum is trading for $2,668.

Turning to Ethereum challenger Solana, Inmortal shares a chart suggesting that SOL is mirroring its 2021 price action when it witnessed a lengthy consolidation period before a massive eruption.

“SOL.” 

Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge image 2 Source: Inmortal/X

In 2021, SOL consolidated for months below $60 before breaking out and rallying to its all-time high of $259. At time of writing, SOL is worth $166.

The analyst is also tracking the price action of the meme token Floki ( FLOKI ). According to Inmortal, FLOKI is flashing multiple bullish higher-low setups indicating that the memecoin is preparing for a breakout.

“It’s all right. We have the mountain now.

Consolidation below resistance + higher lows? This will end soon.

FLOKI go brrrr season.” 

Analyst Predicts 75% Upside Burst for Ethereum, Sees Solana Repeating Massive 2021 Surge image 3 Source: Inmortal/X

Based on the trader’s chart, he seems to predict that FLOKI will jump to $0.00021. At time of writing, FLOKI is trading at $0.000151.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix


Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!