Coin World Report:
A cryptocurrency strategist who closely follows the market believes that the current market adjustment is causing Ethereum (ETH) to experience a parabolic surge by the end of the year.
Anonymous analyst Inmall told his 214,800 followers on social media platform X that Ethereum could consolidate between $4,000 and $2,800 in the coming months.
The trader shared a chart indicating that Ethereum would undergo a year-long parabolic rise starting from October, eventually reaching a historical high of around $8,000 for ETH.
“Capture this. ETH.”
Source: Inmall/X
At the time of writing this article, Ethereum was valued at $2,903, experiencing a daily decline of over 4%.
Looking at Ethereum’s competitor Solana (SOL), Inmortal believes that unless the overall altcoin market can bounce back above $160, forming a bullish high structure, its price could potentially drop significantly.
“The bulls have defended the $120 level, with no captives. I don’t want to see the development of a bouncing ball structure. Higher highs are key.”
Source: Inmall/X
At the time of writing this article, SOL’s trading price was $130, with a daily decline of over 8%.
As for the meme token Floki (Floki), the trader sees a bullish setup flickering, similar to its price movement in April 2024 when it briefly dipped below the support level of $0.00016 before rebounding.
“FLOKI is about to print the famous divergence + retest structure.”
Source: Inmall/X
At the time of writing this article, FLOKI was valued at $0.000135, experiencing a decline of over 10% in the past day.
Don’t miss a beat – subscribe to receive email alerts directly to your inbox and follow us on X, Facebook, and Telegram to check price actions. Surf The Daily Hodl Mix.
Generated image: DALLE3
