Ethereum is gearing up for a “face-melting” rally later this year, according to a cryptocurrency trader — but there’s a problem
Top altcoin Ethereum (ETH) is poised for a massive rally later this year, says a widely followed cryptocurrency analyst.
In a new thread, a cryptocurrency trader with the pseudonym Credible Crypto He tells His 453,200 followers on social media platform
‘[Ethereum] He’s gearing up for a face-melting rally later this year. Just be patient and take advantage of the dips for now. $2,500-$2,800 is our dream buy zone if we can get there in the future.
Trusted encryption continues Note Ethereum is close to achieving its downside target.
“Now we’re at my downside target of about 80% – and we’re seeing some LTF (lower time frame) absorption here, so maybe it’s a good time for us to get some rest before hitting the lows. Let’s see.”
Looking at the trader’s chart, it seems that he expects the ETH price to fall to the support level at $3,000.
Ethereum is trading for $3,255 at the time of writing, which is a marginal decline over the past 24 hours.
Moving on to the dog-themed memecoin dogwifahat (WIF). He says He eventually sees meme assets falling below the psychological price point.
“My last post [about WIF] That was when I closed a buy trade at $2.85 because it looked weak. I was hoping for a move to the highs for a short trade up to $1 but we melted away. It is currently trading at a mid range where I think we may see some relief but I am not interested in longing for it anymore.
“It’s surprising that we left those parity highs behind, so maybe we’ll come back to it but eventually I think sooner or later we’ll see below $1.”
WIF is trading at $1.50 at the time of writing.
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