Ethereum Forming a High Probability Bullish Set Up, According to Crypto Analyst – But There’s a Catch
A closely followed crypto strategist is suggesting that Ethereum (ETH) may be gearing up for a massive breakout. Pseudonymous analyst Inmortal tells his 218,100 followers on the social media platform X that Ethereum looks bullish after holding the $2,400 level as support on the daily timeframe. However, the analyst warns that it may take a while before ETH could potentially have an explosive rally and hit its March high of around $4,000. “I know ETH is the hated coin but: Structure is solid, $2,400 invalidation. Making a lower low feels unlikely. Time cost is what concerns me the most. A lot of better options out there. But even if it takes time, it feels like a high probability setup to go big.” Source: Inmortal/X ETH is trading for $2,525 at time of writing, down slightly in the last 24 hours. Next up, the analyst is expressing bullish sentiment on ETH-based decentralized oracle network Chainlink (LINK). “Believe in something.” ...