Ethereum: The price could jump significantly this year, according to a popular trader’s prediction

A well-known crypto strategist has suggested that Ethereum (ETH), the leading smart contract protocol and the largest altcoin by market capitalization, could experience a year-end rally.

Analyzer known as “Immortal” pointed out that Ethereum is likely to witness a significant increase in value before the end of 2023. In the near future, however, Inmortal speculates that ETH it could potentially correct its value to $1,300 before starting its upward trajectory.

Immortal statements:

I expect movement in this direction for ETH. Whether it is at $1,500 or $1,300, I will continue to accumulate. It’s a simple plan for a simpler life”

Looking at the trader’s chart, it is clear that Inmortal predicts Ethereum to reach $2,000 by the end of the year. The chart further illustrates that ETH will surpass $2,500 in the first quarter of 2024, which is a significant increase from the current price of around $1,600.

Regarding Bitcoin (BTC), Inmortal expects the leading cryptocurrency to return to its $25,800 support level before making a rally to its $27,300 resistance.

He emphasized:

$25,800 is the only level at which I would consider a long position.

— Immortal (@inmortalcrypto) September 23, 2023

Inmortal is also keeping a close eye on Radix ( XRD ), a decentralized finance (DeFi) programming platform. According to the analyst, RDX looks poised for another upside move towards the $0.086 mark, especially pending the mainnet release of its upgrade “Babel”.

Mainnet launch in 3 days. Babylon.$XRD pic.twitter.com/ckdgzNi2l9

— Immortal (@inmortalcrypto) September 24, 2023

According to the project’s official website, Babylon is an upgrade set to enable robust smart contract functionalities for Radix and is expected to launch a fully functioning DeFi ecosystem:

This is a classic retest, with a subsequent increase of +30% since then. Mainnet launch in just 3 days. Babylon.

Source