A trader who accurately called Bitcoin’s (BTC) epic 2022 meltdown thinks Ethereum (ETH) is gearing up to revisit its all-time highs
Pseudonymous analyst Capo tells his 847,900 followers on the social media platform X that he’s bullish on Ethereum as long as it holds its immediate support at $3,600.
“ETH looking good for bullish continuation.”
Source: Capo/X
Based on the trader’s chart, he appears to predict that Ethereum will rally to $4,100 before a slight correction and a move toward its all-time high at around $4,900.
At time of writing, Ethereum is worth $3,683, a fractional decrease in the past day.
Looking at the broader crypto market, Capo says the marketwide correction last Friday is most likely a sell-off event designed to shake out weak hands. According to the analyst, crypto will see renewed rallies if BTC stays above $69,000 and ETH trades higher than $3,600.
“Strong sell-off into support. Alts suffered more, but it looks like a shakeout to be honest. If these support levels hold, we should see bullish continuation soon.”
Source: Capo/X
At time of writing, Bitcoin is worth $69,429.
Capo also says that he still believes altcoins will ignite surges this month even after last Friday’s correction.
“I think June could be a really good month for altcoins.”
Generated Image: DALLE3
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CryptoNews.com.au – https://cryptonews.com.au/news/trader-who-nailed-2022-btc-collapse-predicts-ethereum-rally-says-bullish-continuation-in-sight-for-crypto-market-121466/
