A top crypto analyst and trader says he will turn bullish if Ethereum (ETH) breaks through one major resistance level.
An analyst known as DonAlt told the 62,300 subscribers of the Technical Roundup YouTube channel that ETH could see even bigger gains if Ethereum regains $2,800 on a weekly basis.
“I’m still interested in ETH. But I’d like to trade above here…$3,000 is a fine line. If we get back above $3,000, ETH gets really, really good. And at this point, I think $2,800 is the new boundary for me. I mean, for $2,800, it looks great…
Someone asked if ETH does not make new highs this cycle, could it lead to a death spiral for ETH? i don’t think so. Generally speaking, Bitcoin is the best cryptocurrency ever, and ETH is the second best cryptocurrency ever. ”
Source: DonAlt/YouTube
He also suggests that if the Bitcoin pair (ETH/BTC) ETH stabilizes around its current price for a while, it could be gearing up for a major breakout.
“ETH/BTC has been here for about 6 months on this monthly (chart) and it’s still okay. I actually kind of like it. There’s a whole distribution here, and it started to go down, but Once it starts accumulating and going back up, the chart looks incredible.”
Source: DonAlt/YouTube
ETH/BTC is trading at 0.03953 BTC ($2,380) at the time of writing, up 1.33% in the past 24 hours.
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