Credible Crypto: Massive Surge for ETH – Crypto Bull Market Not Over
A popular strategist and trader, known as Credible Crypto predicts a massive rally for Ethereum, while the market sentiment looks cloudy.
The pseudonymous trader who currently goes by CrediBULL Crypto predicts on Twitter that the second largest cryptocurrency is ready for a big push that could potentially take the leading smart contract platform above $3,400.
“All things considered, this makes the most sense to me. I think we see some relief across the board in the coming weeks. Invalidation on a touch of $1,720. ETH”
All things considered this makes the most sense to me. I think we see some relief across the board in the coming weeks. Invalidation on a touch of $1720. $ETHpic.twitter.com/2IiOWKywUq
At time of writing, Ethereum is trading at $2,004 with 5% up on daily chart. A move up to $3,400 represents gains of around 70%.
Despite the analyst being bullish on Ethereum in the coming weeks, he believes that after the relief rally, Ethereum will give up all of its gains and more. The sell-off will be a setup for Ethereum and altcoins in general for a bullish reversal, says Credible Crypto.
“ETH and alts make a lower low down after the relief (rally) while BTC puts in a higher low- effectively increasing dominance for the final push up before the reversal.”
Yes, and then ETH and alts make a lower low down after the relief while BTC puts in a higher low- effectively increasing dominance for the final push up before the reversal.
Credible Crypto also points out that in his opinion, the crypto bull market is far from over.
“We are in a bull market. This is a correction in the middle of a bull market…
Every bull run has periods of consolidation on the way up. This is necessary and healthy for continued expansion. Each bull cycle has also been lengthening in my opinion. So its natural for this one to take longer than the last and therefore natural to see longer periods of consolidation.”
According to the analyst, Bitcoin is still the king of crypto.
“Don’t think I’ve seen so much salt and frustration from bears in my comments since the covid crash in March lol. We know how that turned out. Bitcoin is up 10x off the bear market lows, and the bull run isn’t over. Life is good. Chill bears. BTC.”
