A widely followed crypto analyst says the top altcoin Ethereum (ETH) is gearing up for a massive rally later this year.
In a new thread, pseudonymous crypto trader Credible Crypto tells With its 453,200 followers on the social media platform
‘[Ethereum] is preparing for a blood-curdling rally later this year. Just be patient and take advantage of the dips for the time being. $2,500-$2,800 is the dream buying zone if we manage to get it on track.”
Credible Crypto Goes Further remark that Ethereum has almost reached its downside target.
“Roughly 80% of my downside target now – I’m seeing some LTF (lower time frame) absorption here, so we may be due for some relief before we hit the lows. Let’s see.”
Looking at the trader’s chart, he seems to predict that ETH will fall to $3,000.
Ethereum is trading at $3,255 at the time of writing, down marginally over the past 24 hours.
We continue with the dog-themed memecoin dogwifhat (WIF), the trader say he eventually sees the meme drop below a psychological price point.
“My last message [about WIF] was when I closed long it at $2.85 because it looked weak. I was hoping for a move to the equal highs for a short to $1, but we melted. Currently it’s trading in the mid-range where I think we could see some relief, but I’m not interested in it anymore.
I’m surprised we’ve left those flat highs behind, so maybe we’ll pull back, but ultimately I think we’ll see sub-$1 sooner or later.”
WIF is trading at $1.50 at the time of writing.
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Generated image: DALLE3