Crypto Analyst Inmortal Maps Out Targets for Ethereum, Solana and Floki, Predicts Parabolic ETH Rally at Year\'s End

A closely followed crypto strategist believes that the current market correction is setting up Ethereum (ETH) for a parabolic surge at the end of the year.

Cryptocurrency strategist Immortal says that the bear market is setting up ETH for a parabolic rally by the end of the year.

The pseudonymous analyst tells his 214,800 followers on the social media platform X that he believes ETH will consolidate between $4,000 and $2,800 over the next few months.

A technical analysis chart from the trader suggests that ETH will begin a year-long parabolic rally in October that will ultimately propel the second-largest crypto to a new all-time high of around $8,000.

According to the analyst, ETH is currently trading at $2,903 at the time of writing, down more than 4% on the day.

Inmortal also has his eye on ETH competitor Solana (SOL), and he believes that the large-cap altcoin could see much lower prices if it fails to rally past $160 to create a bullish higher high structure.

“Bulls defending $120 level, taking no prisoners. I don’t want to see the bouncing ball structure develop. A higher high would be key.”

At the time of writing, SOL is trading at $130, down over 8% on the day.

The trader also says that meme token Floki (FLOKI) is showing a bullish setup that’s like its price action in April 2024 when it briefly traded below support at $0.00016 before rallying.

“FLOKI about to print the famous deviation + retest structure.”

At the time of writing, FLOKI is trading at $0.000135, down over 10% in the past day.

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