CoinDesk Report:
A prominent cryptocurrency strategist and trader believes that Ethereum (ETH) is preparing for a massive breakthrough rebound.
Anonymous analyst Inportal shared a chart with his 217,500 followers on social media, indicating that Ethereum will experience one final drop before skyrocketing by 75% to reach his target of $4,100.
“Call me crazy, but I think ETH is a good SPOT trade. Slower than SOL, but safer.”
Source:
Inportal/X
Zooming in on Ethereum, Inportal points out that ETH has already broken through horizontal resistance within lower timeframes.
“ETH is indicating direction. Classic consolidation below resistance + higher lows.”
Source:
Inportal/X
At the time of writing, Ethereum’s trading price is $2,668.
Regarding Ethereum’s challenger Solana, Inportal shared a chart showing SOL’s price trend in 2021, during which it underwent a lengthy consolidation phase before experiencing a massive breakout.
“SOL.”
Source:
Inportal/X
In 2021, SOL consolidated below $60 for several months before breaking out and rebounding to its all-time high of $259. At the time of writing, SOL is valued at $166.
The analyst is also tracking the price movement of meme token Floki. According to Inportal, FLOKI is flashing multiple bullish higher low setups, indicating that the memecoin is preparing for a breakthrough.
“All good. We have a mountain now. Consolidation below resistance + higher lows? This will end soon. The season of blooming flowers.”
Source:
Inportal/X
Based on the trader’s chart, it appears that FLOKI is predicted to surge to $0.00021. At the time of writing, FLOKI’s trading price is $0.000151.
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Generated image: Midjourney
