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Leading crypto analyst and strategist Inmortal has claimed that Ethereum (ETH) has entered a bullish trend after a long period of accumulation. The analyst also assessed the current outlook for other cryptocurrencies, including Bitcoin (BTC), Solana (SOL), Avalanche (AVAX), and Beam (BEAM).
Analyst’s Commentary on Ethereum, Solana, Avalanche, and Beam
The anonymous crypto analyst and trader Inmortal, in his latest general analysis to his followers on X, highlighted that ETH has decisively broken out of its trading range, especially after retesting the sub $2,000 level several times in recent months. The analyst declared the start of a significant uptrend for the altcoin king, saying, “Wake up, sweetie, the bear market accumulation is over.”
In addition to the altcoin king, the analyst identified a potential price correlation between Solana (SOL) and Avalanche (AVAX), both considered rivals of Ethereum, and expects both altcoins to experience an uptrend. He mentioned that if SOL rises, AVAX is likely to follow its ascent.
Inmortal also expressed optimism about the open-source gaming Blockchain Beam (BEAM) and mentioned that his undisclosed investment in BEAM had yielded positive results. According to the analyst’s analysis, BEAM appears to be in an uptrend after bouncing from the bottom of its trading range around $0.0170.
Bitcoin “Individual Investor” Alert
Lastly, Inmortal speculated that a significant rally in Bitcoin (BTC) could occur with the collective entry of individual investors into the cryptocurrency market. The analyst suggested that the largest cryptocurrency is not currently showing signs of new participant entry at its current price level, but pointed to the potential for significant gains when individual investor interest increases, as it did in 2021, by stating:
There are no new participants in the cryptocurrency market, and we are stuck around the $50,000 levels. This is definitely chilling, but imagine investors coming in masses as they did in 2021 and what followed. Soon, Bitcoin’s price will reach much higher levels.
