Ethereum

Pepe

NEXT GEN PEPE

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 <p>A crypto strategist thinks that an Ethereum (ETH) challenger is following in the footsteps of a red-hot memecoin that just hit a fresh record high.</p> 
 <p>Pseudonymous analyst Credible tells his 393,500 followers on the social media platform X that the market structure of layer-1 protocol Near (NEAR) looks similar to Pepe’s (PEPE), a memecoin that printed a new all-time high in the last 24 hours.</p> 
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 <p><em>“Looks identical to PEPE and with my expectation of some relief across the board here I think dips are for buying, targeting the highs.</em></p> 
 <p><em>I’m long as of last night.”&nbsp;</em></p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GNfe5uBXYAAltT4?format=jpg&amp;name=4096x4096" alt="Image" width="4096" height="2039">
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   Source: Credible/X
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 <p>Looking at the trader’s chart, he seems to be targeting $9 for NEAR with invalidation at $5.72. At time of writing, NEAR is trading for $7.03, suggesting an upside potential of nearly 30% if the altcoin hits Credible’s target.</p> 
 <p>But while Credible is bullish on NEAR, he says his sentiment does not extend to Pepe and large-cap altcoins. The analyst says that Pepe and major altcoins are inching toward a big corrective move as he believes market participants are rotating their capital to ride the next burst to the upside for Bitcoin (BTC).</p> 
 <p><em>“Pepe and major alts = in a ranging environment which I believe is a distribution top ultimately leading to breakdowns.</em></p> 
 <p><em>Bitcoin = in a ranging environment which I believe is a reaccumulation range ultimately leading to a breakout to $100,000.”&nbsp;</em></p> 
 <p>At time of writing, Bitcoin is worth $61,655.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/analyst-says-ethereum-rival-mirroring-memecoin-that-just-printed-new-all-time-high-updates-outlook-on-altcoins-tbt88479.html">https://thebittimes.com/analyst-says-ethereum-rival-mirroring-memecoin-that-just-printed-new-all-time-high-updates-outlook-on-altcoins-tbt88479.html</a></p>

Analyst Says Ethereum Rival Mirroring Memecoin That Just Printed New All-Time High, Updates Outlook on Altcoins

TheBitTimes

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