There is reportedly an Ethereum God candle that will be catching a lot of people off guard. Check out the latest reports about this below.
Ethereum God candle to catch people off guard
A well-known cryptocurrency trader predicts that Ethereum (ETH) is likely to experience a sudden upward trend that will catch many off guard.
A pseudonymous crypto analyst, Inmortal, informed his 203,700 followers on the social media platform X that Ethereum may soon reach the $3,000 level, marking a significant increase of over 34% from its current value.
“Ethereum god candle will catch many people off guard.
‘ETH is dead.’
‘ETH is broken.’
Do you think this market gives a s**t about that? Human greed has no limits.”
The trader has shared a chart that compares the current price pattern of Ethereum (ETH) with a similar historic pattern of Bitcoin (BTC).
The chart suggests that Ethereum is likely to experience a significant rally and surpass a crucial resistance level at around $2,400 to establish it as support.
Additionally, the trader has predicted that Ethereum will soon break out of a descending triangle against Bitcoin (ETH/BTC) and reach 0.069 BTC ($2,926) by next month.
“Do it.”
ETH/BTC is trading for 0.05251 BTC ($2,228) at time of writing.
The trader shared a bullish outlook on Solana, a competing cryptocurrency to ETH. He presented a chart that predicts SOL will increase to around $500 by early 2025, which is more than a 350% increase from its current value.
As of writing this, Solana is trading at $111, and it has experienced a 6.6% decrease in the last 24 hours.
In other recent news, a crypto analyst, known as Pentoshi, who accurately predicted the end of the 2021 Bitcoin bull market, believes that Ethereum (ETH) will experience a surge in value due to an event that has been overshadowed by the potential approval of a spot market Bitcoin exchange-traded fund (ETF).
Pentoshi has shared with his followers on the social media platform X that the possible endorsement of spot Ethereum ETFs next year is likely to give ETH a much-needed boost.
