Markets
Trader who nailed 2022 BTC collapse predicts Ethereum rally, says bullish continuation ahead for crypto market
A trader who accurately called Bitcoin (BTC) Epic collapse of 2022, thinks Ethereum (ETH) is preparing to revisit its all-time highs
Analyst pseudonym Capo tell his 847,900 followers on social media platform X that he is bullish on Ethereum as long as it maintains its immediate support at $3,600.
“ETH looks good for bullish continuation.”
Source: Capo/X
Based on the trader’s chart, he appears to predict that Ethereum will rally back to $4,100 before a slight correction and a move towards its all-time high at around $4,900.
At the time of writing, Ethereum is worth $3,683, a fraction of a drop over the past day.
Looking at the broader crypto market, Capo says last Friday’s market-wide correction is most likely a selling event meant to shake out weak hands. According to the analyst, the crypto will see further rallies if BTC stays above $69,000 and ETH trades above $3,600.
“Strong sales to support. Alts suffered more, but to be honest it feels like an upset. If these support levels hold, we should see a bullish continuation soon.
Source: Capo/X
At the time of writing, Bitcoin is worth $69,429.
Capo too said that he still believes altcoins will trigger surges this month, even after last Friday’s correction.
“I think June could be a very good month for altcoins.”
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