Important Trader Predicts Rallies For ETH And One AI Coin

It has been just reported that an important trader predicted a rally for ETH and also bullish moves for an artificial intelligence coin. Check out the predictions below.

Pentoshi who accurately predicted the top of Bitcoin’s 2021 bull market, believes that Ethereum (ETH) and one other altcoin are due for rallies.

According to his recent tweet, Ethereum looks set to surpass a resistance level that has been holding for over a year. Pentoshi shared his prediction with his 711,700 followers on the social media platform, X.

“A few thoughts on ETH here.

It didn’t come this high to not take out the yearly highs at the very least.

Might let some shorts build up first in that area tho to build liquidations

If BTC ETF (exchange-traded fund) is approved, good chance ETH rallies harder seeing as it’s next.”

Based on the trader’s chart analysis, Ethereum’s long-term resistance level seems to be at $2,144. As of this moment, the current value of Ethereum is $2,038.

Another altcoin that the trader has identified is Fetch.ai (FET), which is an artificial intelligence (AI)-focused cryptocurrency. According to Pentoshi, FET has the potential to surge in value once it surpasses the resistance level of $0.49.

“If it reclaims $0.49, this going to $0.69 in my opinion.”

As of now, the value of FET is $0.413. Additionally, Pentoshi is closely monitoring TOTAL 3, which tracks the overall market cap of cryptocurrencies excluding Bitcoin and Ethereum.

The trader suggests that TOTAL 3 looks positive and has more potential for growth before reaching a resistance level, indicating that altcoins may experience further rallies in the upcoming weeks.

“Still a ways to go next few weeks overall. Sharp pullbacks are gifts.”

Stay tuned for more news from the crypto space and make sure to keep an eye on the market as well.