Ethereum Poised for Rally, Analyst Predicts, Buoyed by Altcoin Outlook

Pseudonymous crypto analyst Inmortal anticipates a significant Ethereum (ETH) rally and remains optimistic about two additional altcoin ventures. Inmortal predicts that ETH is poised for a substantial upswing after bouncing off support near $2,900, targeting a price point of around $3,600. He also expresses bullish sentiments towards Seedify.Fund (SFUND), an incubator for blockchain gaming, and Radix (XRD), a layer-1 DeFi blockchain, highlighting accumulation trends and potential breakouts for both projects.

Ethereum Primed for Rally, Analyst Predicts, Boosted by Altcoin Prospects

Cryptocurrency industry expert Inmortal, known for their insightful market analysis, has forecasted an impending rally for Ethereum (ETH), while expressing optimism towards two promising altcoin projects: Seedify.Fund (SFUND) and Radix (XRD).

Ethereum's Bullish Trajectory

According to Inmortal's analysis shared with over 212,000 followers on social media platform X, Ethereum has established a solid foundation for a significant rally after rebounding from crucial support near $2,900. The analyst anticipates a surge towards a target of $3,600, based on their technical chart analysis.

At the time of writing, Ethereum is trading at $3,226, poised for a potential upward movement.

SFUND's Positive Outlook

Inmortal also identified Seedify.Fund (SFUND), a prominent gaming-focused blockchain incubator and launchpad, as a promising investment opportunity. The analyst highlighted the formation of a double bottom pattern, followed by a 50% decline into support.

In the past, similar market conditions have historically been followed by a price surge of over 100%. Inmortal predicts that a decisive breakout above the $3 level would ignite a significant rally for SFUND. Currently, SFUND is valued at $3.12 with a market capitalization of $197.841 million.

Radix's Accumulation and Breakout Potential

Radix (XRD), a decentralized finance (DeFi)-oriented layer-1 blockchain project, has caught Inmortal's attention. The analyst noted that XRD has undergone an extended accumulation period of over 500 days, suggesting that a price breakout is imminent.

"Retesting a +500 days accumulation. Just bought some," stated Inmortal.

At the time of writing, XRD is trading at $0.055, significantly below its all-time high of $0.6513. However, the analyst's observations suggest that XRD has the potential for substantial price appreciation.

Inmortal's analysis provides valuable insights for cryptocurrency investors, highlighting potential investment opportunities in Ethereum, Seedify.Fund, and Radix. While the analyst's predictions may not materialize precisely as expected, their expertise and proven track record warrant consideration by investors seeking to navigate the complex and volatile cryptocurrency market.