Markets
Trader who nailed BTC collapse in 2022 predicts Ethereum rally and claims bullish continuation in sight for cryptocurrency market
A trader who accurately called Bitcoin (Bitcoin) epic collapse of 2022 thinks Ethereum (ETH) is preparing to revisit its all-time highs
Pseudonymous analyst Capo it says his 847,900 followers on social media platform X that he is bullish on Ethereum as long as it maintains its immediate support at $3,600.
“ETH looks good for bullish continuation.”
Source: Capo/X
Based on the trader’s chart, he appears to predict that Ethereum will rise to $4,100 before a slight correction and a move towards its all-time high around $4,900.
At the time of writing, Ethereum was worth $3,683, a fractional decrease from the previous day.
Looking at the broader crypto market, Capo says last Friday’s market-wide correction is likely a sell-off event designed to shake out weak hands. According to the analyst, the crypto will see new highs if BTC remains above $69,000 and ETH trades above $3,600.
“Strong sales support. Alts suffered the most, but it feels like a shake up, to be honest. If these support levels hold, we will see a bullish continuation soon.”
Source: Capo/X
At the time of writing, Bitcoin is worth $69,429.
Capo too it says that he still believes altcoins will trigger spikes this month, even after last Friday’s correction.
“I think June could be a very good month for altcoins.”
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