Dogecoin Frenzy Could Boost Floki's Ascent, Analyst Predicts

Popular analyst Inmortal anticipates a surge in the meme coin FLOKI if Dogecoin experiences a bullish run. Additionally, the analyst predicts a rally in Ethereum against Bitcoin and assesses the current market position of Bitcoin, suggesting a possible market bottom.

Dogecoin Frenzy to Fuel Floki's Ascension: Analyst Predicts Meme Coin Surge

As the cryptocurrency market continues its volatile trajectory, renowned analyst "Inmortal" has identified a potential beneficiary of Dogecoin's (DOGE) anticipated rally: Floki (FLOKI). With the highly anticipated "DOGE Day" approaching on April 20th, Inmortal believes that FLOKI is poised to ride the wave of excitement surrounding the meme coin.

In his analysis, Inmortal suggests that FLOKI will confirm a bullish breakout if it surpasses the $0.00016 resistance level. This move would signal a significant turning point for the altcoin, potentially leading to substantial gains.

"If DOGE pumps on 4/20, FLOKI will follow," Inmortal asserts. "The confirmation is above 0.00016."

At the time of writing, FLOKI was trading at $0.000141, showing a modest 1.4% increase over the previous 24 hours. However, despite this positive trend, the altcoin remains down 23.5% over the past seven days.

Ethereum to Outpace Bitcoin: Inmortal's Optimistic Forecast

Beyond the meme coin realm, Inmortal also predicts that Ethereum (ETH) is preparing for a breakout against Bitcoin (ETH/BTC). He believes that ETH is forming a bottom and expects it to gain strength against the leading cryptocurrency.

"Timing the exact bottom is not easy, nor is it necessary," Inmortal explains. "I am not saying that this low is a pico bottom, but the structures and general sentiment suggest that this is a bottom formation. No need to stress, we are flying above 0.055 BTC."

At the time of writing, ETH/BTC was trading at 0.048 BTC ($3,066).

Bitcoin Bottom in Sight: Inmortal's Market Assessment

Finally, Inmortal turns his attention to the market leader, Bitcoin (BTC). While acknowledging the volatility in Bitcoin's price, he believes that the cryptocurrency may have reached its market bottom.

"Maybe we'll see another rally, maybe we won't, but this is starting to feel like a bottom," Inmortal states. "Bullish divergence! The price is in the low range (19% below the all-time high). The downtrend is not accelerating."

Bitcoin has indeed experienced significant price fluctuations in recent days, rising as high as $65,480 before dipping to $59,600. At the time of writing, it had regained some ground and was trading near $64,640, showing a 1.5% daily gain.

As the cryptocurrency market continues to evolve, Inmortal's insights provide valuable guidance for investors and traders. His predictions, based on technical analysis and market observation, suggest potential opportunities for profit and potential risks to avoid.