A widely followed crypto analyst says an Ethereum (ETH) layer 2 scaling solution appears to be the starting point for a rally that would see it post gains of over 200%.
In a new strategy session, crypto trader Michaël van de Poppe told his 736,000 followers on social media platform ) by early next year if it holds key support levels.
“Volatility is increasing. OP tested the crucial resistance, but fell more than 20% in recent days. If there is another test at $1.80-1.90, then I expect us to break higher and have an ATH test in January.
Optimism is trading at $1.54 at the time of writing, down 7% in the last 24 hours. To surpass its all-time high of $4.84, OP would need to rise 214% from its current price.
Moving on to Bitcoin (BTC), van de Poppe says the leading crypto asset by market capitalization could reach a six-figure price by the end of this week. However, he also predicts that all crypto markets will experience a flash crash over the next two weeks, which will inhibit liquidity.
“A massive chart for Bitcoin. This has increased significantly since Trump was elected. The question is: do we see $100,000 this week? We could. We will also experience a flash crash in the markets in the next 1-2 weeks to reduce liquidity.
Bitcoin is trading at $88,757 at the time of writing, down 5% on the day.
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