A closely watched crypto strategist thinks leading smart contract protocol Ethereum (ETH) is gearing up for a year-end surge.
Pseudonymous analyst Inmortal tells his 199,000 followers on social media platform X that Ethereum is likely to see significantly higher prices before 2023 ends.
However, in the coming weeks, the analyst says ETH could correct to a low of $1,300 before starting its rise.
“I expected something like this ETH. My strategy is the same, whether I pay $1,500 or $1,300, I keep accumulating. Simple plan, simple life.”
Looking at the trader’s chart, he seems to predict that Ethereum could rise to $2,000 by the end of the year. The chart also shows that Ethereum rose above $2,500 in the first quarter of 2024.
At the time of writing, Ethereum is worth $1,590.
Looking at Bitcoin (BTC), Inmortal predicts that the crypto king will revisit the support at $25,800 before returning to its resistance at $27,300.
“$25,800 is the only level I want.”
At the time of writing, BTC is trading at $26,286.
The trader also keeps a close eye on Radix (XRD), a decentralized finance (DeFi) programming environment. According to Inmortal, RDX appears poised for another move towards the $0.086 level as the project gears up for the mainnet launch of its Babylon upgrade.
According to the project’s website, the Babylon update will enable “powerful” smart contract functionalities for Radix and “spark a live DeFi ecosystem.”
Says immortal,
“Retested textbook, +30% since then. Mainnet launch in 3 days. Babylon.”
At the time of writing, RDX is worth $0.061.
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Generated image: Midjourney