Ethereum (ETH) is currently poised for a major breakout rally, according to a prominent crypto analyst. In a recent social media post, the pseudonymous analyst Inmortal highlighted similarities between Ethereum’s price action and that of Bitcoin (BTC) over the past few weeks.
While Ethereum has been facing resistance at the $4,000 mark, the analyst draws parallels to Bitcoin’s struggle to surpass $100,000 before eventually reaching new all-time highs. Inmortal suggests that Ethereum could be on the cusp of a significant breakout rally, similar to Bitcoin’s recent surge.
The analyst’s chart indicates a potential surge for Ethereum towards its all-time high of $4,800 following the breakout. Currently, ETH is trading at $3,892, indicating a potential upward trajectory in the near future.
In addition to Ethereum, Inmortal is also keeping a close eye on the memecoin Floki (FLOKI). According to the analyst, Floki is displaying a symmetrical triangle pattern and is poised to break above the structure’s diagonal resistance, potentially leading to new record highs.
The chart suggests that Floki could reach a new all-time high of $0.00038, with the current price sitting at $0.000219. This indicates a potential bullish trend for the memecoin in the coming days.
Moving on to Solana (SOL), the Ethereum competitor is also showing signs of a breakout above its diagonal resistance, with a potential rally towards $300. Inmortal’s chart hints at a bullish trend for SOL, with the current price standing at $222.60.
In conclusion, Ethereum, Floki, and Solana all appear to be gearing up for significant price movements in the near future, according to the analysis provided by Inmortal. With potential breakout rallies on the horizon, crypto traders and investors may want to keep a close watch on these assets in the coming days.
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