Ethereum News: Trader Predicts ‘God Candle’ Breakout for ETH and New All-Time High for Floki Inu

• A top market analyst is convinced Ethereum will breach its All-Time high soon.
• The bullish projection also extended to Floki as the broader market sentiment shifted.

Popular pseudonymous crypto analyst Inmortal predicted that Ethereum (ETH) is set for a massive rally known as the “God candle.”  At the same time, the analyst claims the Floki memecoin is on the verge of reclaiming a new All-Time High (ATH).

The Analyst’s Bold Ethereum Prediction

Inmortal tells his followers on social media X that Ethereum’s two-hour chart resembles Bitcoin’s (BTC) price movement over the previous two weeks. The analyst noted Ethereum’s struggle to overcome the key $4,000 resistance level. Similarly, BTC had challenges breaching the $100,000 mark for weeks before surging to new all-time highs.

“Same price action, but with one difference. God candle after the breakout. ETH,” the analyst wrote in the X post. 

Same price action, but with one difference.

God candle after breakout.$ETH pic.twitter.com/y4krLG26Sh

— Inmortal (@inmortalcrypto) December 15, 2024

Essentially, a god candle is described as a massive candlestick pattern that indicates a drastic surge in an asset’s price. Even in a market performing well, these candles are typically surprising and show strong bullish momentum.

Inmortal said he expects ETH to surge close to its ATH of $4,800 due to the “God candle” on the Ethereum chart. 

ETH traded for $3,705 at the time of writing, decreasing by 4.5% in the last 24 hours. This decline suggests Ethereum is experiencing consolidation as it prepares for a potential rally ahead. 

Further reinforcing the bearish reversal is the surge in trading volume. The 24-hour volume has increased by 39.6% to $51.75 billion, increasing investor interest in the altcoin.

Earlier this week, some Binance analysts predicted that ETH could hit $20,000 by 2025, per a CNF report. The analysts’ bold prediction is based on Ethereum’s growing adoption, upgrades like sharding, and rising interest from institutional investors. 

Although the $20,000 price target is uncertain, Ethereum possesses the ecosystem, resources, and momentum to make a compelling push. Whether it reaches that milestone depends on its capacity to adapt and keep its developmental commitments.

New All-Time High to Floki Inu: Analyst Predicts 

Besides Ethereum, Inmortal predicted a bullish outlook for the memecoin Floki. The pseudonymous analyst believes FLOKI will soon reach a new all-time high. 

According to Inmortal, FLOKI is likely trading in a symmetrical triangle pattern and preparing to break through the diagonal resistance to new record highs. 

“Second leg up -loading. New ATH – loading. Price discovery – loading FLOKI,” the analyst wrote.

The analyst’s chart indicates that he believes FLOKI will soar to a new all-time high of $0.00038. Meanwhile, FLOKI is currently valued at $0.000189, showing a 12% decline in the last 24 hours. 

The decline, however, mirrors pessimistic sentiments in the broader crypto market. Like ETH, the daily trading volume surged by 64% to $583 million.