A widely followed crypto analyst says top altcoin Ethereum (ETH) is gearing up for a gigantic rally later this year.
In a new thread, pseudonymous cryptocurrency trader Credible Crypto tells his 453,200 followers on social media platform a solid entry for long-term holders.
“(Ethereum) is gearing up for a face-melting rally later this year.” Just be patient and enjoy the dips for now. $2,500-$2,800 is the dream buy zone if we can reach it in the future.
Credible Crypto goes on to note that Ethereum is close to hitting its downside target.
“Now about 80% of my downside target – we’re seeing some LTF (lower period) absorption here, so maybe we need some relief before we hit the lows. Let’s see.”
Looking at the trader’s chart, he seems to predict that ETH will fall to support at $3,000.
Ethereum is trading at $3,255 at the time of writing, a marginal decline over the past 24 hours.
Moving on to the dog-themed memecoin dogwifhat (WIF), the trader says he ultimately sees the meme asset dipping below a psychological price.
“My last post (on WIF) was about when I closed a long position at $2.85 because it looked weak. I was hoping for a move to even highs for a short sale at $1, but we melted. The stock is currently trading at the midpoint, where I think we could see some relief, but I’m no longer interested in waiting it out.
I’m surprised we left those even highs behind, so maybe we’ll get back to that, but ultimately I think sooner or later we’ll see less than $1.
WIF is trading at $1.50 at the time of writing.
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