Trader Predicts Rallies for Ethereum Following Strong December, Updates Outlook on Two ETH Challengers

A closely followed crypto strategist believes that Ethereum (ETH) is gearing up for a big rally next year after a bullish December.

Pseudonymous analyst Rekt Capital tells his 380,300 followers on the social media platform X that Ethereum looks primed for an over 20% surge if it manages to end December above the key resistance level of $2,274.

The analyst shares a chart showing ETH retesting $2,274 as support before igniting a rally toward $2,791.

“ETH is positioning itself really well for a bullish December monthly close.” 

Image
Source: Rekt Capital/X

At time of writing, Ethereum is trading for $2,302.

The crypto strategist is also keeping a close watch on the Ethereum rival MultiversX (EGLD), formerly known as Elrond. Rekt Capital sees EGLD rallying to $85.46 after taking out its resistance at around $60.

“EGLD continues to perform well. First, reclaimed orange area as support. And then the red area as support. Following the black path now.

Dips into red = healthy but may not occur.” 

Image
Source: Rekt Capital/X

At time of writing, EGLD is trading for $68.83.

The next altcoin on the trader’s radar is fellow Ethereum competitor Near (NEAR). According to Rekt Capital, NEAR could retest $3.35 as support first before breaking out of its immediate resistance at $4.36.

“Rejects from $4.36 and may be set for a monthly close below said level.

However, NEAR still remains inside this blue-blue range, with scope to retest the range low soon.

Stability there could precede another challenge of $4.36+.” 

Image
Source: Rekt Capital/X

At time of writing, NEAR is worth $3.71.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Leave a Reply

Your email address will not be published. Required fields are marked *