Ethereum (ETH) is making waves in the cryptocurrency market, with one analyst predicting a rapid surge from $4,000 to $5,000 in just a matter of days. Inmortal, a popular crypto trader with a significant following on X, shared his bullish outlook on the top smart contract platform.
According to Inmortal, the recent climb from $3,000 to $4,000 took 27 days, but he anticipates that the jump to $5,000 will happen much quicker. His chart analysis suggests that Ethereum could break through the $4,800 barrier soon, signaling new all-time highs for the digital asset.
At the time of writing, Ethereum is trading at $4,014, a slight decline from its peak of $4,848 in November 2021. Despite this pullback, Inmortal remains optimistic about Ethereum’s potential, especially in its Bitcoin pair (ETH/BTC). He believes that the ETH/BTC ratio has hit a cycle bottom after a prolonged downtrend, indicating a potential reversal in trend.
Inmortal also weighed in on Bitcoin’s recent price action, noting that the leading cryptocurrency should maintain its upward momentum after briefly dipping below $100,000. With Bitcoin currently trading at $100,223, he dismissed concerns about a significant correction, suggesting that a recent $6,000 wick served as the dip for the digital asset.
As the crypto market continues to evolve, analysts like Inmortal provide valuable insights and predictions for investors and traders. With Ethereum and Bitcoin both showing signs of strength, the coming days could bring exciting developments for the market. Stay tuned for more updates and analysis from the crypto community.
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[Note: This article is a reimagined version of the original content, tailored for a WordPress platform, while retaining the core information and analysis provided by the crypto analyst Inmortal.]