A closely followed crypto trader believes that Bitcoin (BTC), Ethereum (ETH) and one other smart contract protocol are likely setting up for rallies.
Pseudonymous crypto analyst Inmortal tells his 194,000 Twitter followers that he believes Bitcoin is likely retesting support around $24,000 before igniting the next leg up and subsequently breaking out.
“Give me a weekly open retest to long BTC, please.”
At time of writing, Bitcoin is worth $24,103, still well above Inmortal’s invalidation point of $23,800.
Looking at Ethereum, Inmortal shares an inverted chart of ETH, showing that he expects the leading smart contract protocol to rally to as high as $2,100.
At time of writing, ETH is worth $1,651.
Looking at Ethereum rival Solana (SOL), the crypto strategist expects the altcoin to surge once it gets above a key resistance area.
“Fireworks above $25.”
Inmortal also says that Solana is his “bear market conviction play.”
“I received a lot of taunts for keep accumulating SOL around $14, much more than when I bought ETH around $100 in 2019. I say it today, I said it when it was at $8 and I’ll say it when It will make a new all-time high.”
At time of writing, SOL is trading for $24.42.
Inmortal is also keeping an eye on the decentralized oracle network Chainlink (LINK). According to the analyst, LINK will likely erupt should it get above $9.
“LINK weekly structure.
Price at high timeframe resistance.
Above $9 it will run hard.”
At time of writing, LINK is worth $7.47.
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