Popular trader and analyst Credible Crypto says the second-largest and the fifth-largest crypto assets are set to rally in a similar fashion to Bitcoin.
In a series of tweets, Credible Crypto first says that Ethereum is following the script laid out by Bitcoin when it tripled in price after breaking through the 2017 high.
“Remember that time when BTC broke $20,000 and then flew to $60,000 in a matter of weeks? Well now ETH wants to play follow the leader. $3,000 is just the start.”
When asked to state a price target for Ethereum by a follower, Credible Crypto reveals that he expects the second-largest cryptocurrency to reach “at least $8,000-$10,000.”
Currently, Ethereum is trading at slightly below $3,500, meaning it could rise by between 130% and 190% if Credible Crypto’s prediction comes to pass.
In the case of XRP, the crypto trader says that it’ll follow a similar script to Ethereum.
The cryptocurrency trader and influencer bought a stake in XRP when it was priced at between 90 cents and $1. XRP is currently trading at $1.45. While he has sold off a portion of that stake, the digital asset is now up by between 45% and 60%.
Credible Crypto says he will increase his XRP stake if the fifth-largest digital asset by market cap retraces.
“Up nearly 60% from where my bids were filled earlier in the “ideal bid” region. Now pushing into H4 supply. Locking in some profits here and will reload if we get a dip. $XRP.”
Outside of Ethereum and XRP, Credible Crypto points out that Bitcoin faces strong resistance at the $60,000 level and could possibly fall to $52,000, a point at which he could place bids.
The flagship cryptocurrency was trading at slightly below $56,000 at time of writing.
“This is why we become cautious at resistance. I’ll likely look to long 52k if we get it. $BTC.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Roman Voloshyn
Credit: Source link