Coin World News Report:
A crypto strategist who closely monitors the market believes that the current market correction is causing Ethereum (ETH) to experience a parabolic surge by the end of the year.
Anonymous analyst Inmall informed his 214,800 followers on social media platform X that Ethereum could consolidate between $4,000 and $2,800 in the coming months.
The trader shared a chart indicating that Ethereum will undergo a year-long parabolic rise starting from October, eventually reaching a historical high of around $8,000 for ETH.
“Capture this.
ETH.”
Source: Inmall/X
At the time of writing, Ethereum is valued at $2,903, experiencing a daily decline of over 4%.
Taking a look at Ethereum’s competitor Solana (SOL), Inmortal believes that unless the altcoin market can rebound above $160 and form a bullish high structure, its price could significantly decline.
“The bull team is defending the $120 level, no prisoners. I don’t want to see the development of a bounce ball structure. Higher highs are key.”
Source: Inmall/X
At the time of writing, SOL is trading at $130, with a daily decline of over 8%.
As for meme token Floki (Floki), the trader believes that the altcoin is flashing a bullish setup, similar to its price action in April 2024 when it briefly dipped below the support level of $0.00016 before rebounding.
“FLOKI is about to print the famous divergence + retest structure.”
Source: Inmall/X
At the time of writing, FLOKI is valued at $0.000135, experiencing a decline of over 10% in the past day.
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Generated image: DALLE3