An analyst who accurately predicted Bitcoin’s dramatic drop in 2022 now believes that Ethereum is poised to reach its all-time highs again. Known as Capo, this pseudonymous trader shared his bullish outlook with his 847,900 followers on X, stating that as long as Ethereum maintains its support at $3,600, he sees a positive trend ahead.
“ETH is showing potential for a bullish continuation.”
According to Capo’s analysis, Ethereum could rally to $4,100 before experiencing a minor correction and heading towards its previous peak of around $4,900. Currently, Ethereum is valued at $3,683, showing a slight decrease over the past day.
In the wider crypto market, Capo views last Friday’s market correction as a deliberate move to shake out weak investors. He believes that if Bitcoin remains above $69,000 and Ethereum stays above $3,600, the market will see a resurgence in positive momentum.
“There was a significant sell-off leading to support levels. Altcoins were hit harder, but it seems like a shakeout. If these levels hold, we can expect a bullish trend to resume soon.”
As of now, Bitcoin is trading at $69,429.
Capo remains optimistic about altcoins sparking rallies this month, despite the recent correction.
“I have high hopes for altcoins in June.”
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