According to KOL Justin Bennett. ETH is ready to significantly outperform BTC and other altcoins
A prominent analyst believes Ethereum (ETH) is preparing for an impressive rally and will overtake the rest of the crypto market.
Justin Bennett told his 90,400 Twitter followers that ETH / BTC could see strong rallies to 0.105 and 0.160 BTC, which is around $ 6,000 and $ 9,100 at press time.
“ETH / BTC looks ready.
I think that ETH will surpass other coins in the next few weeks. ”
Weekly ETH / BTC chart | The source: Justin Bennett / Twitter
Looking at the trends of the entire crypto market, the analyst suggests that in addition to BTC, the ETH could also give investors clues as to where the market is going.
“People look to BTC for clues about this cycle. But what if ETH becomes a leading indicator?
With a market capitalization of more than half a trillion dollars and a dominance of 19% of the market, Ethereum is not a problem. It’s time to pay attention to both [theo ý kiến của tôi]”.
Next, Bennett delves into the top Ethereum price levels. He says $ 4,000 is critical support and sees a break from $ 4,600 as an opportunity to move to new ATH levels.
“ETH has hit a higher low of over USD 4,000. I am very optimistic.
$ 4,400 is the resistance. It’s moving towards the moon for over $ 4,600. ”
ETH / USD daily chart | The source: Justin Bennett / Twitter
At the time of writing, ETH is trading at $ 4,464.
When it comes to the benchmark cryptocurrency, Justin Bennett says Bitcoin must hold the $ 55,000 level and break through $ 60,000 if it is to rebound after falling from a new all-time high of $ 68,500.
“BTC looks good to start a recovery rally towards the $ 63,000 region.
You have to hold the $ 55,000 level and break through the $ 60,000 level. ”
BTC / USD daily chart | The source: Justin Bennett / Twitter
In a follow-up tweet, Bennett said he would open a long position if BTC can break a descending resistance line.
“BTC, so far so good.
Break the downtrend line in the 4-hour frame and place a long order.
BTC / USD 4-hour chart | Source: Justin Bennett / Twitter
You can see the price of the coin 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.
According to Dailyhodl