Cryptocurrency markets have recently become an area where significant fluctuations have been experienced, but also where great opportunities have emerged. In this turbulent environment, many investors and analysts are expressing optimistic views that Ethereum (ETH) is poised for a strong rally in the near future. In particular, analyst Inmortal’s predictions about Ethereum, which has a large following in the cryptocurrency markets, aroused wide repercussions among investors.
According to Inmortal’s analysis, Ethereum has recently rebounded strongly from the critical support level around $2,900. This indicates that Ethereum is starting to recover on a more solid foundation. The analyst suggests that once ETH solidly regains this support level, it is poised for a “real” rally. This indicates that the price of Ethereum may rapidly move higher in the coming days.
This time for real$ETH pic.twitter.com/NcvB08FIgx
— Inmortal (@inmortalcrypto) April 20, 2024
NEWS CONTINUES BELOW
This optimism seems to be supported by technical analysis. Looking at the charts of Ethereum, an upward trend is observed towards its target around $3,600. This indicates that Ethereum may gain further strength and gain upward momentum in the coming period.
On the other hand, besides Ethereum, Inmortal is also bullish on Seedify.Fund (SFUND) exhibiting. Seedify.Fund is seen as a project that has an important place in the Ethereum ecosystem and has great potential in the future. The analyst uses the following statements for the altcoin:
“Wow.
> Double bottom
> -50% drop to support
The last time we dropped into this zone the price jumped +100%.”
Inmortal also says that “magic” will happen when SFUND breaks the $3 level.
The last altcoin on the analyst’s radar is Radix (XRD), a layer-1 blockchain project focused on decentralized finance (DeFi). According to Inmortal, XRD has traded in the accumulation zone for more than 500 days, indicating that an upside breakout is overdue.
“Retest during the +500 day accumulation period
“I just bought some.”
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