Ethereum (ETH) Could Surge to $5,000 in Days, Analyst Predicts
A well-known crypto analyst, Inmortal, has made a bold prediction that Ethereum (ETH) could soar from $4,000 to $5,000 in just a matter of days. With a strong following of 220,900 followers on the social media platform X, the analyst is confident in ETH’s potential to reach new all-time highs rapidly.
Inmortal pointed out that it took Ethereum 27 days to climb from $3,000 to $4,000, and he believes that the next milestone of $5,000 could be achieved much quicker. His chart analysis indicates that Ethereum is poised to break through the $4,800 barrier in the near future.
At the time of writing, Ethereum is trading at $4,014, which is a slight decrease from its all-time high of $4,848 set in November 2021. Despite this, Inmortal remains bullish on Ethereum’s prospects and suggests that the cryptocurrency is on track to make significant gains.
In addition to his Ethereum price prediction, Inmortal also shared insights on Ethereum’s performance against Bitcoin (ETH/BTC). He noted that ETH/BTC appears to have hit a cycle bottom after a prolonged downtrend, signaling a potential reversal in the pair’s fortunes.
Shifting focus to Bitcoin, Inmortal expressed confidence that the leading cryptocurrency would maintain its upward momentum despite a recent dip following its historic breach of the $100,000 mark. He dismissed concerns of a significant pullback, stating that a $6,000 wick was likely the extent of the correction.
As of now, Bitcoin is trading at $100,223, showing resilience in the face of market fluctuations. With both Ethereum and Bitcoin showing strength, crypto investors are eagerly anticipating further price movements in the coming days.
In conclusion, Inmortal’s optimistic outlook on Ethereum and Bitcoin serves as a reminder of the dynamic nature of the crypto market. While price volatility is a common feature, savvy traders can capitalize on these fluctuations to enhance their investment portfolios.
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