A closely followed crypto trader believes that Ethereum (ETH) bulls should defend a crucial price area to keep its uptrend alive.
Pseudonymous analyst Inmortal tells his 235,500 followers on X that Ethereum needs to stay above its 2025 opening price to sustain its long-term bullish momentum.
“Testing weekly demand.
2025 Open at $3,300 is the line in the sand.”
At time of writing, Ethereum is worth $4,021.
Despite calls that the bull market top is in for crypto, Inmortal believes that the market will soar to greater heights in the next three months.
“Bull market is not over… I don’t know where it will bounce or how much it will retrace. I just know two things. It’s not over. Prices will be higher in Q4.”
Looking at the altcoin market, the trader predicts that the meme token Bonk (BONK) will surge as long as it stays above $0.000018. He also notes that crypto whales have been accumulating BONK over the past few weeks.
“Checking top memecoins whale inflows. I feel like they know something I don’t…”
At time of writing, BONK is trading at $0.000019.
The trader is also bullish on EigenCloud (EIGEN), a platform that aims to bring “verifiability as a service” to both on-chain and off-chain applications. Inmortal appears to be targeting $3 for EIGEN based on its technical and fundamental setups.
“1. Institutions like the verifiable cloud.
2. Web3 arm of Japan’s largest telecom is joining Eigen.
3. EIGEN price action says it all.
Today’s daily candle engulfing the previous one is very telling.”
At time of writing, EIGEN is worth $1.89, up over 7% on the day.
