ADA, BNB, and these two altcoins are giving signals that are not in a bear market, according to KOL Nicholas Merten

Cryptocurrency analyst Nicholas Merten says that the performance of Cardano (ADA), Binance Coin (BNB) and two other altcoins is proof that the crypto market is not yet in bear territory.

In one Video Neu, Merten says that one of the key features of the crypto winter is that altcoins are starting to fall against Ethereum (ETH).

He noted that the ADA/ETH pair is up more than 30% over the past month, signaling a healthy investor appetite for altcoins, even as price action looks uncertain.

“We can see that ADA/ETH is up about 33% since December, about a month ago… That’s interesting… One would normally think that ADA would fall more than Ethereum.

The crowd was extremely bullish on ADA a couple of months ago and has slowly softened. Now they have fallen in price and ADA is starting to trend higher again. That interests me.”

Weekly ADA/ETH Chart | Source: TradingView/Nicholas Merten

Merten said that Binance Coin has a similar history in the BNB/ETH pair.

“If BNB goes back up [ngưỡng kháng cự 0,16 ETH hoặc $ 521], it might see stronger gains. Also, I don’t see a major drop in the Ethereum pair that we usually see in bear markets.

3-day BNB/ETH chart | Source: TradingView/Nicholas Merten

The analyst says that despite impressive gains over the past year, smart contract platform Avalanche (AVAX) still looks bullish on Ethereum (AVAX/ETH), which bodes well for the market. Cryptocurrencies in general.

“To be fair, the chart doesn’t look bad. I think the pair made a higher low here and is now approaching the long-term resistance area. When you see a price break above this resistance area [0,03 ETH hoặc $ 97], I think AVAX could continue to boom with its ETH pair.”

AVAX/ETH 3-day chart | Source: TradingView/Nicholas Merten

Ethereum competitor Solana (SOL) is also showing strength. He said that SOL/ETH is looking resilient, which could be a sign that Solana has a chance to spark another rally in its bull cycle.

“SOL/ETH has been flat here since September 2020. That’s a good sign after any strong rally. I wouldn’t panic now if I was a Solana owner… It’s still holding up pretty well.”

Weekly SOL/ETH Chart | Source: TradingView/Nicholas Merten

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page