The cryptocurrency market has gained new momentum. While the leading cryptocurrency Bitcoin is reaching the $40,000 mark, most altcoins are also showing strength. In this environment, a crypto analyst with a large following says that Ethereum and Chainlink are poised to witness further upward movements.
Analyst: The leading altcoin is ready to really do it this time!
cryptokoin.comAs you follow from , the market activity continues despite it being the weekend. After a retreat, Bitcoin approached the 40 thousand dollar limit with a new move. Most leading altcoins are also moving deeper into the green zone. In this positive atmosphere, the analyst nicknamed ‘Inmortal’ shared his latest predictions. The analyst says Ethereum is breaking out of a triangle formation on the four-hour chart. In this context, according to Inmortal, the break will probably continue this time. The analyst said, “ETH is ready to do this. This time he will really do it!” says.
Meanwhile, at the time of writing, Ethereum was trading at $2,162, up 3.63% in the last 24 hours. The leading altcoin gained 3.56% on its weekly chart. In addition, ETH price increased by over 20% on its monthly chart.
LINK is ready to reach $17, according to Inmortal
The analyst then looks at the decentralized oracle network Chainlink. Inmortal says LINK broke out of the ascending triangle formation. He also states that he is ready to reach the $17.00 target. In this regard, the analyst said, “We are Gucci. Keep pushing.” He expresses his views by saying.
Meanwhile, at the time of writing, LINK was changing hands at $15.98, up over 2% in the past day. The altcoin recorded an increase of 5.44% on its weekly chart. Besides, LINK gained over 45% in the monthly time frame.
Analyst: Shorting Bitcoin is not a good idea!
Finally, Inmortal takes a look at the leading cryptocurrency Bitcoin (BTC). The analyst says that BTC has managed to maintain a strong uptrend over the last month and a half after printing consecutive bullish-bearish setups. Based on this, Inmortal shares the following assessment:
Shorting Bitcoin is not a good idea. All shorts opened in the last 45 days were either stopped, liquidated or underwater. Meanwhile, the market continues to make higher lows.
Meanwhile, at the time of writing, Bitcoin was trading at $39,558, up over 2% in the last 24 hours. BTC increased by over 15% on its monthly chart.
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