Analysts’ views on cryptocurrencies have recently become increasingly significant. The upward trend that began after the Bitcoin halving reached its peak in March before turning into a decline. However, on May 20, the market experienced a new surge following the news of a potential Ethereum ETF, prompting investors to offer fresh insights. One notable market figure made significant comments about Ethereum and another digital currency.
Ethereum (ETH) is currently the leading altcoin among the cryptocurrencies followed by this investor. According to the analyst’s predictions, ETH may experience one final downward movement before surpassing the $4,000 mark.
At the time of writing, the price of Ethereum stands at $3,849, reflecting a 1% increase in the past 24 hours. The trading volume has reached $15.2 billion, representing a 14.83% rise in the same period.
In addition to ETH, this market figure is also closely monitoring two other tokens. Positive comments were made about TokenFi (TOKEN), which emerged as a result of the tokenization of real-world assets (RWA). According to the analyst, TOKEN appears to be following in the footsteps of Ondo Finance (ONDO), one of the leading projects in the RWA sector in recent times.
Analyzing the chart shared by the trader, it is predicted that TOKEN could surpass the resistance level of $0.16 and climb to $0.24.
As of now, it seems that TOKEN has indeed surpassed the initial resistance level of $0.16. The token is currently trading at $0.1683, reflecting a 14% increase in the past 24 hours.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.