A prominent analyst believes Ethereum (ETH) and Chainlink (LINK) will have another race to new all-time highs.
Analyst Pentoshi told his 270,500 Twitter followers that the smart contract platform Ethereum (ETH) is trending higher in both USD and BTC pairs after breaking through resistance.
“The ETH / USD pair just broke the downtrendline on the low timeframe and made a higher low after a resistance /[Unterstützung auf dem Höchstzeitrahmen]Flip was done.[hỗtrợtrênkhungthờigiancao[hỗtrợtrênkhungthờigiancao
Absolutely no bearish signal on any currency pair. But above all the BTC couple. “
ETH / USDT daily chart | The source: Pentosh1 / Twitter
Hourly ETH / USDT Chart | The source: Pentosh1 / Twitter
“I think it’s time to pay attention to ETH / BTC
Consolidation in 10 days.
The structure of higher highs and higher lows remains intact on the daily and higher time frames.
Challenging short term resistance on a low timeframe.
Last move to 0.10-0.125 BTC (4.811-6.013 USD) “.
ETH / BTC 4-hour chart | The source: Pentosh1 / Twitter
3-day frame ETH / BTC chart | The source: Pentosh1 / Twitter
Looking at Chainlink’s decentralized Oracle network, Pentoshi predicts it will climb to $ 32 after hitting a triple bottom on the chart.
“Update LINK.
The price is at the resistance in the low time frame. The next target is $ 32. A high volume triple floor is formed.
The main resistance range is $ 36- $ 37 ”.
LINK / USDT 4-hour chart | The source: Pentosh1 / Twitter
With the BTC pair, he found that LINK has apparently bottomed out and is moving towards higher highs. He predicts an increase to 0.001952 BTC ($ 57.60).
“Ultimately, I like the similarities between what’s being built here and its biggest rally in the past.
LINK / BTC is bottoming out on the weekly chart and has been quickly making a series of higher highs and lower lows over the past few months. History often rhymes, so I believe that over time the right will coincide with the left. “
Weekly LINK / BTC Chart | The source: Pentosh1 / Twitter
Regarding Bitcoin, Pentoshi stressed that BTC made a gold cross on the daily chart. A signal that historically has seen a positive change in momentum for the cryptocurrency market.
“Bitcoin is fine.
A gold cross appeared on the daily chart.
A bullish engulfing candle was created at the support level. The trading volume will increase. “
BTC / USDT daily chart | The source: Pentosh1 / Twitter
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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