Experienced crypto analyst and strategist Inmortal has predicted that the leading smart contract protocol Ethereum (ETH) is preparing for an end-of-year surge. The analyst also highlighted Radix (XRD) as an altcoin project to watch for potential growth.
Analyst’s Prediction for Ethereum and Radix
Anonymous crypto analyst Inmortal stated on their personal account on the social media platform X that they expect Ethereum to see significantly higher prices before the end of the year. The analyst expects ETH to pull back to as low as $1,300 before starting the projected rise in the coming weeks:
I expect this to happen with ETH. Whether it’s $1,500 or $1,300, my strategy remains the same, I continue to accumulate. My plan is simple.
Looking at the price chart shared by Inmortal, it seems that Ethereum is poised to reach $2,000 by the end of the year. The chart also indicates that Ethereum will surpass $2,500 in the first quarter of 2024.
Following Ethereum, Inmortal shifted focus to Radix, a decentralized finance (DeFi) programming environment. Inmortal believes that Radix, as it prepares for the mainnet launch of the Babylon update, is poised for a new rise towards $0.086. According to the project’s website, the Babylon update will bring powerful smart contract features to Radix and enable the creation of a vibrant DeFi ecosystem.
Sharing their expectations for XRD, Inmortal said, “It passed the retest like a textbook. Since then, it has risen over 30%. The mainnet launch is coming in 3 days.”
Bitcoin Identifies Buying Point: $25,800
Finally, looking at the largest cryptocurrency, Bitcoin, the analyst predicts that it will revisit the $25,800 support level before returning to the $27,300 resistance. The analyst added that if the price reaches $25,800, they will open a long position.
According to data from crypto data and price platform CoinmarketCap, the largest cryptocurrency, BTC, is trading at $26,215 with a 0.67% increase in the last 24 hours.