A closely followed crypto trader says Ethereum (ETH) is gearing up for a rally, and that he’s bullish on two other altcoin projects.
Pseudonymous analyst Inmortal tells his 212,000 followers on the social media platform X that ETH is setting up for its “real” rally after bouncing off support near $2,900.
“This time for real.
ETH.”
Looking at the trader’s chart, he seems to predict that Ethereum is almost ready to rally toward his target at around $3,600.
At time of writing, Ethereum is trading at $3,226.
The analyst is also bullish on Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming.
“Wow.
> Double bottom
> -50% dip into support
Last time we dipped into this zone price bounced +100%
SFUND.”
Inmortal also says once SFUND breaches the $3 level, that’s when the “magic” will happen. At time of writing, SFUND is trading for $3.12 at a $197.841 million market cap.
The trader also has his radar locked on Radix (XRD), a decentralized finance (DeFi) focused layer-1 blockchain project.
According to Inmortal, XRD has gone through more than 500 days of accumulation, implying that a breakout of the range to the upside is overdue.
Says the trader,
“Retesting a +500 days accumulation
Just bought some.”
At time of writing, XRD is worth $0.055, still more than 91% down from its all-time high of $0.6513.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney
Read the full article here
