Ethereum

<div class="dailyhodl">
 <p>A closely followed crypto strategist believes that Ethereum (ETH) is now in an uptrend after a lengthy period of accumulation.</p>
 <p>Pseudonymous analyst Inmortal tells his 206,500 followers on the social media platform X that ETH has convincingly broken out of a trading range after retesting the lower $2,000 level several times in the past few months.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“Wake up honey, bear market accumulation is over.”</em></p>
 <div class="css-175oi2r r-1adg3ll r-1udh08x">
  <div class="r-1p0dtai r-1pi2tsx r-u8s1d r-1d2f490 r-ipm5af r-13qz1uu">
   <div class="css-175oi2r r-1mlwlqe r-1udh08x r-417010" aria-label="Image" data-testid="tweetPhoto">
    <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GGFrWKWWkAAnteV?format=png&amp;name=medium" alt="Image" width="1200" height="583">
     <figcaption class="wp-caption-text">
      Source: Inmortal/X
     </figcaption>
    </figure>
   </div>
  </div>
 </div>
 <p>Ethereum is trading for $2,670 at time of writing, up more than 6% in the last 24 hours.</p>
 <p>Next up, the trader thinks there is a price correlation between ETH-rivals Solana (SOL) and Avalanche (AVAX) and is expressing bullish sentiment on both tokens.</p>
 <p><em>“If SOL pumps, AVAX will follow. Muscle memory.” </em></p>
 <p>SOL is trading for $113.94 at time of writing, while AVAX is trading for $41.27.</p>
 <p>The trader is also bullish on open-source gaming blockchain Beam (BEAM).</p>
 <p><em>“My unspecified amount of BEAM is up.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GF6mmBmWMAENTGb?format=jpg&amp;name=medium" alt="Image" width="1200" height="583">
  <figcaption class="wp-caption-text">
   Source: Inmortal/X
  </figcaption>
 </figure>
 <p>Looking at his chart, the trader suggests BEAM is in an uptrend after bouncing off the bottom of a trading range at around $0.0170.</p>
 <p>BEAM is trading for $0.0294 at time of writing, up more than 14% in the last 24 hours.</p>
 <p>Lastly, the trader is predicting Bitcoin (BTC) will go on a massive rally when retail traders sitting on the sidelines enter the crypto market.</p>
 <p><em>“No new participants in crypto and we are at $48,000, chilling. Imagine when the masses come in like they did in 2021. We are going much higher, soon.” </em></p>
 <p>Bitcoin is trading for $49,777 at time of writing, up more than 3% in the last 24 hours.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-trader-says-ethereum-accumulation-phase-now-over-predicts-rally-for-eth-rival-tbt79673.html">https://thebittimes.com/crypto-trader-says-ethereum-accumulation-phase-now-over-predicts-rally-for-eth-rival-tbt79673.html</a></p>

Crypto Trader Says Ethereum Accumulation Phase Now Over, Predicts Rally for ETH Rival

TheBitTimes

Other articles published on Feb 13, 2024

How Bitcoin ETFs could impact the average investment portfolio

Founders Fund Buys $200M Worth of BTC and ETH Ahead of the Bull Run

5 Lesser-Known Altcoins To Buy As Bitcoin Tops $50,000: IMX, OP, STX, SUI, BONK

ERC-404 token standard sparks debate among Ethereum enthusiasts

Record $1.1 Billion Crypto Inflows Signal Bullish Investor Sentiment

Insights on Dogecoin (DOGE) Price Movement and Predictions

Join our free newsletter for daily crypto updates!