A widely followed crypto analyst says Ethereum (ETH) looks primed to move higher after exhibiting price stability during the last two weeks.
In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 519,700 followers on the social media platform X that ETH may be gearing up for more rallies after maintaining $4,000 as support on the weekly chart.
“ETH: the post-breakout retest was successful. And indeed, it enabled a challenge into $4,000 (red). In fact, Ethereum has been holding the $4,000 (red) area as new support for the second week in a row. Continued price stability here [means] renewed upside.”
Looking at his chart, the trader suggests that ETH may soon rally to $4,542.
Ethereum is trading for $3,956 at time of writing, up nearly 28% in the last 30 days.
However, the analyst says that Bitcoin (BTC) may continue to outperform altcoins now that Bitcoin dominance (BTC.D)…
