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A closely followed crypto trader says Ethereum (ETH) is gearing up for a rally, and that he’s bullish on two other altcoin projects.
Pseudonymous analyst Inmortal tells his 212,000 followers on the social media platform X that ETH is setting up for its “real” rally after bouncing off support near $2,900.
“This time for real.
ETH.”
Looking at the trader’s chart, he seems to predict that Ethereum is almost ready to rally toward his target at around $3,600.
At time of writing, Ethereum is trading at $3,226.
The analyst is also bullish on Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming.
“Wow.
> Double bottom
> -50% dip into support
Last time we dipped into this zone price bounced +100%
SFUND.”
Inmortal also says once SFUND breaches the $3 level, that’s when the “magic” will happen. At time of writing, SFUND is trading for $3.12 at a $197.841 million market cap.
The trader also has his radar locked on Radix (XRD), a decentralized finance (DeFi) focused layer-1 blockchain project.
According to Inmortal, XRD has gone through more than 500 days of accumulation, implying that a breakout of the range to the upside is overdue.
Says the trader,
“Retesting a +500 days accumulation
Just bought some.”
At time of writing, XRD is worth $0.055, still more than 91% down from its all-time high of $0.6513.
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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 loses 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: Midjourney
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