024According to the latest reports, it seems that Ethereum is slated to see a new rally in 2024. Check out more details about this latest prediction.
ETH is about to see a new rally
According to a well-known crypto strategist, Ethereum (ETH) is expected to experience a significant surge in value in the coming year.
The analyst, who goes by the name Rekt Capital, has a large following of 380,300 people on X, a social media platform.
He suggests that Ethereum is set for a boost of over 20% if it can finish December above the crucial resistance level of $2,274. The analyst has shared a chart that illustrates ETH’s potential for a surge towards $2,791 after retesting $2,274 as support.
“ETH is positioning itself really well for a bullish December monthly close.”
At time of writing, Ethereum is trading for $2,302.
The crypto strategist is closely monitoring MultiversX (EGLD), formerly known as Elrond. Rekt Capital predicts EGLD will surge to $85.46 after surpassing its resistance at $60.
“EGLD continues to perform well. First, reclaimed orange area as support. And then the red area as support. Following the black path now.
Dips into red = healthy but may not occur.”
At time of writing, EGLD is trading for $68.83.
The next cryptocurrency on the trader’s radar is NEAR, which is a competitor to Ethereum. As per Rekt Capital, NEAR may test the support level of $3.35 before breaking out of its immediate resistance at $4.36.
Although there have been rejections from the $4.36 level, NEAR is still within its blue range, and there is a possibility that it may retest the range low soon. If NEAR stabilizes at that level, it could potentially challenge $4.36+ again.
