A widely followed crypto analyst says Ethereum (ETH) and altcoins are gearing up for a phase of significant outperformance.
Closely followed strategist Credible Crypto tells his 459,600 followers on the social media platform X that ETH is presenting a great entry point for investors even though a dip is still in the cards before the rally.
“I don’t think you can go wrong buying spot at these levels – the macro/HTF (higher time frame) charts look absolutely fantastic and, if correct, downside would be limited to 10-20% max with an upside of 100-500%+ in the coming months (depending on how optimistic you are on future potential)…
If you can see a valid trade setup from current levels, take it (I have, and shared this live a few days ago). If not, buy some spot and chill and if we get the dip to $2,400-$2,800 then you can take the trade setup off that level.”
Earlier this week, the trader predicted ETH will hit a price tag of between $10,000 to $20,000 by the end of the market cycle.
“ETH is going to come back with a vengeance in the coming months and ironically enough it seems it’s going to leave some of its strongest supporters (former .eth’s) behind. $10,000 is a bare minimum once we break out in my opinion and I think $20,000 is certainly not unreasonable by end of cycle.”
Source: Credible Crypto/X
Ethereum is trading for $3,064 at time of writing, down nearly 8% on the day.
Credible goes on to say the biggest altcoin season of all time is coming after crypto king Bitcoin (BTC) finds its cycle top.
“[I] don’t agree at all with this idea of ‘no alt-season.’ You know why there will be a massive alt season? Because humans are greedy… That’s why. Biggest alt season we’ve ever seen yet to come, post BTC top.”
Generated Image: DALLE3
