A crypto strategist and trader releases his predictions for the digital asset market for the first few months of the year, including his first quarter outlook for Ethereum (ETH).
The analyst, pseudonymously known as Inmortal, tells his 222,400 followers on social media platform X that he thinks Ethereum is gearing up for rallies this quarter.
The trader believes that ETH is about to follow in the footsteps of its price action in the first quarter of 2024.
“ETH is poised to have a good first quarter.”’
Looking at the trader’s chart, he seems to predict that ETH will hit a new all-time high of $5,300 in March. At the time of writing, ETH is worth $3,646.
He too thinks legacy altcoins and artificial intelligence (AI)-focused projects will drive rallies in the next three months.
“In Q1:
1. ETH performs better.
2. Go SOL +$300
3. Mega pump of AI coins
4. Memes perform poorly
5. Dino Coins are having a good run.”
While the analyst believes memecoins won’t see major rallies in the first quarter of this year, he says Floki (FLOKI) will be an exception.
“High conviction from the memecoin leader.
FLOKI.”
Based on the trader’s chart, he seems to suggest that FLOKI reflects the price action of Pepe (PEPE) from late 2023 to early 2024, when the Ethereum-based memecoin went parabolic after months of sideways movement. The trader seems to predict that FLOKI will reach a new all-time high of $0.0005 before the end of the first quarter.
At the time of writing, FLOKI is trading at $0.00019.
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Generated image: Midjourney