- This year is anticipated to host enormous rallies for top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and one other altcoin.
- The widely respected trader, Inmortal, believes that API3 (API3) is set for significant gains.
- Inmortal recently highlighted a bullish outlook for API3 after its strategic funding round and prolonged accumulation phase.
This article forecasts a significant bullish trend for major cryptocurrencies and highlights API3’s potential surge, offering valuable insights for investors.
Inmortal Predicts Major Bullish Trend for Key Cryptocurrencies
Inmortal, a prominent trader on social media platform X, has garnered attention by forecasting significant rallies for leading cryptocurrencies in 2024. Among these, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are predicted to experience remarkable upward movements. Furthermore, API3 (API3), a decentralized data oracle network, is expected to see considerable growth following a period of consolidation.
API3: Technical Signals and Strategic Investments
Inmortal’s analysis of API3 is rooted in both technical signals and recent developments within the project. API3 recently concluded a strategic funding round led by DWF Labs, raising $4 million in USDC. The trader points out that API3’s chart displays a hyper bullish pattern, further solidified by over 600 days of accumulation and a clean retest of its accumulation zone.
At the time of writing, API3 is trading at $3.37, reflecting a gain of over 9% in the past day. Inmortal’s projections suggest that API3 could surge to $6, driven by these technical and strategic factors.
Broader Market Outlook: Bitcoin, Ethereum, Solana
Looking at the broader market, Inmortal anticipates a strong finish for 2024. He expects Bitcoin (BTC) to surpass $100,000, Ethereum (ETH) to exceed $10,000, and Solana (SOL) to reach above $500. The trader foresees a relatively uneventful period over the next couple of months, characterized by market chops and traps. However, an uptrend is expected to resume in August, leading to a parabolic movement throughout the fourth quarter of the year.
Impact on Altcoins and Investor Strategies
Inmortal’s bullish forecast extends beyond the top cryptocurrencies to the broader altcoin market. He predicts that many altcoins could see gains of 2x to 5x. This projection presents substantial opportunities for investors looking to diversify their portfolios.
The trader emphasizes the importance of following charts, which he believes rarely lie. His insights suggest a strategic approach to investing, capitalizing on market trends and technical indicators to maximize returns.
Conclusion
In summary, Inmortal’s analysis paints a promising picture for the cryptocurrency market in 2024. With predicted rallies for major cryptocurrencies and specific altcoins like API3, investors have the potential for significant returns. As always, due diligence and a strategic approach are essential for navigating the volatile crypto landscape. Monitoring market movements and leveraging technical insights can provide valuable guidance for making informed investment decisions.
