A trader who accurately predicted Bitcoin’s dramatic downturn in 2022 now believes that Ethereum is poised to reach its all-time highs again. Going by the name Capo, this analyst shared his optimistic outlook with his 847,900 followers on the social media platform X, stating that he sees Ethereum in a bullish trend as long as it maintains its immediate support level at $3,600.

Capo’s chart suggests that Ethereum could surge to $4,100 before experiencing a minor correction and eventually aiming for its previous peak around $4,900. Currently, Ethereum is valued at $3,683 with a slight decrease in the last 24 hours.

In terms of the overall crypto market, Capo interprets last Friday’s marketwide correction as a deliberate move to weed out weaker investors. He believes that if Bitcoin stays above $69,000 and Ethereum remains above $3,600, the market will likely see renewed upward trends.

Bitcoin is currently trading at $69,429. Despite the recent correction, Capo remains optimistic about altcoins, stating that June could be a promising month for these alternative cryptocurrencies.

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