Trader inmortal has notified his 217,000 followers that ethereum seems to be going through a consolidation phase. The second-largest cryptocurrency has gained significant traction at the $2,800 mark, providing a solid base for potential upward progress. The analyst predicts that over time, eth could potentially reach $5,000, although he acknowledges that this consolidation phase should not persist for an extended period.
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Currently, eth is priced at $3,150, whereas it reached its highest point of $4,700 in 2021. As for solana, the coin is currently priced at $235, which is slightly lower than its previous peak of $259.96. Inmortal highlighted that solana has emerged from a “symmetrical triangle” formation, which in technical analysis typically suggests that the asset’s upward trend will continue.
Earlier, the CEO of the blockchain analytics platform cryptoquant, Ki Young Ju, predicted that bitcoin could reach $112,000 by the end of the year, indicating that the broader cryptocurrency market may also see substantial growth.
