Ethereum Could Break $5,000 ‘In a Few Days,’ Says Crypto Trader – Here’s His Outlook
A widely followed crypto analyst says that Ethereum (ETH) could go from $4,000 to $5,000 in a move that takes a matter of days.
Pseudonymous crypto trader Inmortal tells his 220,900 followers on the social media platform X that he expects the top smart contract platform to hit new all-time highs with haste.
“It took 27 days to go from $3,000 to $4,000. It will take only a few days to go from $4,000 to $5,000. ETH.”
Looking at the trader’s chart, Inmortal expects Ethereum to shatter the $4,800 barrier.
Ethereum is trading for $4,014 at time of writing, down about 18% from its all-time high of $4,848 which it hit in November of 2021.
The strategist goes on to note that Ethereum in its Bitcoin pair (ETH/BTC) appears to have printed a cycle bottom after touching a support level following a lengthy downtrend.
“Imagine being bearish after 1,300 days of downtrend. The same people who hate ETH now [are the] same people who hated [Solana] in 2022. Just my opinion.”
ETH/BTC is valued at 0.03996 BTC ($4,003) at time of writing.
Moving on to the crypto king, Inmortal says that Bitcoin should sustain upward momentum despite dipping after reaching the $100,000 milestone for the first time ever last week.
“$6,000 wick. That was your dip.”
Bitcoin is trading for $100,223 at time of writing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Ethereum Could Break $5,000 ‘In a Few Days,’ Says Crypto Trader – Here’s His Outlook appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
