Trader Forecasts Ethereum Explosion to All-Time High – But Issues Near-Term Warning on ETH

A closely followed crypto trader is predicting an explosive move to the upside for Ethereum (ETH) while warning of a possible near-term dip.

Pseudonymous crypto analyst Inmortal tells his 194,000 Twitter followers that Ethereum could shoot up by more than 170% from its current value of $1,901, hitting a new all-time high.

However, he is warning that there may first come a dip after Ethereum crosses the $2,000 level. He says a similar pattern formed in 2019 when ETH dipped after rallying to the $400 level.

“My only fear with ETH.”

Looking at his chart, the trader is predicting Ethereum could reach $5,200 by September 2024.

Another altcoin on the trader’s radar is the decentralized oracle network Chainlink (LINK). He says LINK is in a consolidation phase around the mid-$7 range and will soon likely break to the upside.

“One day, LINK marines will wake up again.”

Chainlink is worth $7.31 at time of writing.

Lastly, Sherpa says he believes it’s only a matter of time before Bitcoin (BTC) breaks its resistance around the $28,600 level, which he says will trigger fear of missing out (FOMO) among investors, sending it even higher.

“I think BTC is going to print a god candle in the not too distant future. That’s where the real FOMO will begin. This is not an advice, it is not an analysis, it is just a hunch.”

Bitcoin is trading for $28,196 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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