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Henry Kanapi
4 days, 5 hours ago

Trader Who Nailed 2022 BTC Collapse Predicts Ethereum Rally, Says Bullish Continuation in Sight for Crypto Market

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A trader who accurately called Bitcoin’s (BTC) epic 2022 meltdown thinks Ethereum (ETH) is gearing up to revisit its all-time highs

Pseudonymous analyst Capo tells his 847,900 followers on the social media platform X that he’s bullish on Ethereum as long as it holds its immediate support at $3,600.

“ETH looking good for bullish continuation.”

Based on the trader’s chart, he appears to predict that Ethereum will rally to $4,100 before a slight correction and a move toward its all-time high at around $4,900.

At time of writing, Ethereum is worth $3,683, a fractional decrease in the past day.

Looking at the broader crypto market, Capo says the marketwide correction last Friday is most likely a sell-off event designed to shake out weak hands. According to the analyst, crypto will see renewed rallies if BTC stays above $69,000 and ETH trades higher than $3,600.

“Strong sell-off into support. Alts suffered more, but it looks like a shakeout to be honest. If these support levels hold, we should see bullish continuation soon.”

At time of writing, Bitcoin is worth $69,429.

Capo also says that he still believes altcoins will ignite surges this month even after last Friday’s correction.

“I think June could be a really good month for altcoins.”

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