Ethereum Setting Up for a ‘Face-Melting’ Rally Later This Year, According to Crypto Trader

An influential crypto analyst predicts a major rally for Ethereum (ETH) later this year.

According to a recent thread on X, the trader known as Credible Crypto believes that Ethereum is primed for significant growth, with a potential dip offering a good entry point for long-term investors.

“[Ethereum] is setting up for a massive rally later this year. Patience is key, and taking advantage of dips is essential. The $2,500-$2,800 range is an ideal buying zone if the price drops.”

Credible Crypto also mentions that Ethereum is nearing his downside target.

“We are now around 80% towards my downside target. Some short-term absorption is happening, so we might see some relief before further downside. Let’s wait and watch.”

Gg_bCuKWIAA4vh1 — Source: Credible Crypto/X

Based on the trader’s analysis, it appears that ETH could drop to $3,000 support.

At the time of writing, Ethereum is priced at $3,255, showing a slight decrease in the past 24 hours.

Turning to the meme coin dogwifhat (WIF), Credible Crypto suggests that the asset could drop below a key price point.

“I closed a long position on WIF at $2.85 due to weakness. I was anticipating a move to lower levels, but the price dropped further. Currently trading at a mid-range where some relief could be expected, but I’m not looking to enter long positions. Despite possible retracements, I believe we will eventually see sub $1 levels.”