A well-known crypto strategist and trader has shared his insights on the potential breakout rallies for Ethereum (ETH) in the near future. According to the pseudonymous analyst Inmortal, Ethereum is poised for a significant surge, with a target price of $4,100, representing a potential 75% increase from its current level.
Inmortal, who has a large following on the social media platform X, posted a chart indicating that Ethereum may experience one final dip before embarking on a bullish rally. The analyst expressed confidence in Ethereum as a promising spot trade, highlighting its slower but safer nature compared to other cryptocurrencies. The chart shared by Inmortal suggests that Ethereum has already broken out of its horizontal resistance on the lower time frames, signaling a potential upward momentum.
As of the latest update, Ethereum is trading at $2,668, with Inmortal’s analysis pointing towards a positive outlook for the cryptocurrency. In addition to Ethereum, the analyst is also keeping a close watch on Solana (SOL), noting similarities in its current price action to its performance in 2021. According to Inmortal, SOL is mirroring its previous consolidation period before experiencing a significant price surge. In 2021, SOL consolidated below $60 for months before rallying to its all-time high of $259. Currently, SOL is valued at $166.
Inmortal is also monitoring the price action of the meme token Floki (FLOKI), which is showing bullish signs of multiple higher-low setups. The analyst’s chart suggests that FLOKI is gearing up for a breakout, with a potential target price of $0.00021. At present, FLOKI is trading at $0.000151, indicating room for growth based on Inmortal’s analysis.
To stay updated on the latest developments in the crypto market, followers are encouraged to subscribe for email alerts and follow The Daily Hodl on various social media platforms. By keeping a close eye on the price action of Ethereum, Solana, and Floki, traders can make informed decisions and potentially capitalize on the upcoming breakout rallies predicted by Inmortal.
Overall, the analysis provided by Inmortal offers valuable insights into the potential price movements of key cryptocurrencies in the market, highlighting opportunities for traders to capitalize on emerging trends and profit from strategic trading decisions.