The Ethereum price is rising after a widely-followed cryptocurrency analyst and trader has turned bullish.ETH) layer-2 project.
Credible Crypto is a pseudonym for the analyst. tells His 379.100 followers on social media platform X that Optimism.OP() is currently in the middle of price discovery, and could move higher.
The term price discovery describes the situation where a coin is trading at levels it has never experienced before.
“Just took a position in OP. We are at record highs but also technically in price discovery which means if we can hold this breakout things may accelerate quickly. Also, some fundamental catalysts approaching to support.”
According to his chart, OP is likely to remain in a bullish upward trend as long it can maintain the $4.40 as a level of support. He believes the next Key level to the upside of $4.97
At the time this article was written, optimism is currently trading for $4.45. That’s a drop of nearly 3% from just 24 hours ago. Optimism has reached an all-time high price of $4.84.
Next, the trader predicts Hedera, a competitor to Ethereum (HBAR() could be on the cusp of a major breakout if the resistance level at $0.13 is convincingly turned into support.
“The time-weighted average price (TWAP) continues on HBAR. We can see clear signs of absorption on sell-offs as we move up with strong spot demand supporting price on the rise. Note that price moves up aggressively with market buys but an equivalent amount of market sells fails to push price down by the same amount. Looks ready to explode to be honest.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/1709926384_125_Trader-Says-Altcoin-Thats-Near-All-Time-High-Could-Accelerate-Quickly.jpeg)
HBAR currently trades for $0.12, down 5% over the past 24 hours.
The trader is the last but not least. analyzes The possible future for proof-of-work cryptocurrency Kaspa (KASAfter a rebound from recent lows.
“KAS has made a beautiful impulse off the $0.09-$0.10 lows – exactly what I look for in order to prep to buy a dip. Entered for a scalp to around $0.19 for now, after which point I will re-evaluate as I think this leg down may be the first of a larger/sideways complex correction.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/03/1709926384_373_Trader-Says-Altcoin-Thats-Near-All-Time-High-Could-Accelerate-Quickly.jpeg)
A trader based his prediction on the chart that KAS would retest $0.19.
KAS trades for $0.15 as of the time of this writing, down over 6% from 24 hours ago.
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