Recent discussions among analysts regarding cryptocurrencies have been gaining traction. Following the Bitcoin halving, a surge in the market reached its peak in March before transitioning into a decline. However, on May 20, a new surge in the market was sparked by news of a spot Ethereum ETF, prompting investors to offer fresh insights. One prominent market figure provided significant commentary on Ethereum as well as another cryptocurrency.
A key focus in the market has been on the current price of Ethereum. An analyst known as Inmortal shared insights about the potential second phase of a bullish trend in cryptocurrencies, suggesting that this could be triggered by actions taken by the Federal Reserve, signaling the start of a major rally in the market.
Among the various cryptocurrencies being watched by investors, Ethereum (ETH) has been standing out as a top performer among altcoins. The analyst’s forecast indicates that ETH may experience one final downward movement before surpassing the $4,000 mark.
At the time of writing, Ethereum is priced at $3,849, having risen by over 1% in the last 24 hours. The trading volume stands at $15.2 billion, reflecting a 14.83% increase over the same period.
In addition to Ethereum, Inmortal is keeping a close eye on two other tokens. Positive remarks were made about TokenFi (TOKEN), a token representing the tokenization of real-world assets, and ONDO Finance (ONDO), a notable project in the real-world assets sector in recent times. According to the analyst, TOKEN is poised to break through the $0.16 resistance level and potentially reach $0.24.
As of the latest update, TOKEN has surpassed the $0.16 resistance level and is currently trading at $0.1683, marking a 14% increase in the last 24 hours.
For further updates, follow us on Telegram, Facebook, Twitter, and Coinmarketcap. Please note that the information provided in this article is not to be construed as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research before making any investment decisions.
