A closely followed crypto strategist and trader thinks Ethereum (ETH) is gearing up to ignite big breakout rallies.
Pseudonymous analyst Inmortal shares a chart with his 217,500 followers on the social media platform X suggesting that Ethereum will see one final dip before sparking a 75% surge to his target of $4,100.
“Call me crazy, but I think ETH is a good SPOT trade here.
Slower than SOL, but safer.”Â
Zooming in on Ethereum, Inmortal notes that ETH has already broken out of its horizontal resistance on the low time frame.
“ETH showing the way.
Classic consolidation below resistance + higher lows.”Â
At time of writing, Ethereum is trading for $2,668.
Turning to Ethereum challenger Solana, Inmortal shares a chart suggesting that SOL is mirroring its 2021 price action when it witnessed a lengthy consolidation period before a massive eruption.
“SOL.”Â
