Ethereum: The price could jump significantly this year, according to a popular trader's prediction

A well-known crypto strategist has suggested that Ethereum (ETH), the leading smart contract protocol and the largest altcoin by market capitalization, could experience a year-end rally.

Analyzer known as “Immortal” pointed out that Ethereum is likely to witness a significant increase in value before the end of 2023. In the near future, however, Inmortal speculates that ETH it could potentially correct its value to $1,300 before starting its upward trajectory.

Immortal statements:

I expect movement in this direction for ETH. Whether it is at $1,500 or $1,300, I will continue to accumulate. It's a simple plan for a simpler life”

Looking at the trader's chart, it is clear that Inmortal predicts Ethereum to reach $2,000 by the end of the year. The chart further illustrates that ETH will surpass $2,500 in the first quarter of 2024, which is a significant increase from the current price of around $1,600.

Regarding Bitcoin (BTC), Inmortal expects the leading cryptocurrency to return to its $25,800 support level before making a rally to its $27,300 resistance.

He emphasized:

$25,800 is the only level at which I would consider a long position.

Inmortal is also keeping a close eye on Radix ( XRD ), a decentralized finance (DeFi) programming platform. According to the analyst, RDX looks poised for another upside move towards the $0.086 mark, especially pending the mainnet release of its upgrade “Babel".

According to the project's official website, Babylon is an upgrade set to enable robust smart contract functionalities for Radix and is expected to launch a fully functioning DeFi ecosystem:

This is a classic retest, with a subsequent increase of +30% since then. Mainnet launch in just 3 days. Babylon.