A closely followed analyst and trader believes the leading layer-1 platform Ethereum (ETH) is poised for a breakout surge.
The pseudonymous trader Inmortal tells his 234,400 followers on the social media platform X that he believes Ethereum is gearing up for a rally toward new all-time high prices.
The analyst shares a chart suggesting that ETH has one final resistance level to breach at around $4,000 before erupting to new record levels.
“Where we’re going, you won’t need charts.
Clean $4,000, and this is going to get quite crazy.”
At time of writing, Ethereum is trading for $3,594.
Another altcoin on the trader’s radar is Mantle (MNT), an Ethereum layer-2 scaling solution. Inmortal believes that MNT, which is up about 60% since July, looks primed for a surge toward $1.25.
“Keep an eye on MNT.
Today we printed a god candle, but I also said this when we were accumulating.
It won’t warn you, the train will move fast and won’t wait for anyone.
This is just getting started.”
At time of writing, MNT is worth $0.90.
Next up is the memecoin Floki (FLOKI), which the trader believes is also setting up for an upside move.
“Run it back, turbo.”
Based on the trader’s chart, he seems to suggest that FLOKI will hit $0.00016. At time of writing, FLOKI is worth $0.0001.
Turning to Solana (SOL), Inmortal predicts that the altcoin will rally to $220 in the coming days.
“What about a SOL long here?
It’s not a bad spot for a bounce.”
At time of writing, SOL is trading at $163.
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Generated Image: Midjourney