A closely-followed analyst and trader is predicting a massive rally for Ethereum amid the prevailing bearish sentiment in the crypto markets.
The pseudonymous analyst known as Credible Crypto tells his 223,500 followers that Ethereum is poised for a strong surge that can potentially take the leading smart contract platform above $3,400.
“All things considered, this makes the most sense to me. I think we see some relief across the board in the coming weeks. Invalidation on a touch of $1,720. ETH”
Source: Credible Crypto/Twitter
At time of writing, Ethereum is trading at $1,881 and a move up to $3,400 represents gains of over 80%.
While Credible Crypto is bullish on Ethereum in the coming weeks, he believes that after the relief rally, Ethereum will give up all of its gains and more. According to the crypto trader, the sell-off will be a setup for Ethereum and altcoins in general for a bullish reversal.
“ETH and alts make a