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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.”
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.”
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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 losses 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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