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Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin

Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin

Daily HodlDaily Hodl2024/12/17 16:00
By:by Henry Kanapi

A popular crypto analyst thinks that Ethereum ( ETH ) is on the verge of printing a massive breakout rally also known as a god candle.

Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s ( BTC ) price action over the last two weeks.

The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs.

“Same price action, but with one difference.

God candle after the breakout.

ETH.”

Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin image 0 Source: Inmortal/X

Based on the trader’s chart, he seems to predict that ETH will surge close to its all-time high of $4,800 after the breakout. At time of writing, ETH is worth $3,892.

The trader also has his radar locked on the memecoin Floki ( FLOKI ). According to the trader, FLOKI appears to be trading in a symmetrical triangle pattern and is gearing up to shatter the structure’s diagonal resistance en route to new record highs.

“Second leg up – loading.
New ATH – loading.
Price discovery – loading.

FLOKI.”

Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin image 1 Source: Inmortal/X

Based on the trader’s chart, he seems to predict that FLOKI will explode to a new all-time high of $0.00038. At time of writing, FLOKI is worth $0.000219.

Looking at Solana ( SOL ), the trader sees the Ethereum rival bursting above its diagonal resistance to rally toward $300.

“Something like this.

SOL.”

Trader Predicts ‘God Candle’ Breakout for Ethereum, Says New All-Time High Loading for One Memecoin image 2 Source: Inmortal/X

At time of writing, SOL is worth $222.60.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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