A leading cryptocurrency analyst and trader is predicting that two of the largest crypto assets by market cap are primed for a rally.
The pseudonymous analyst known as Smart Contracter tells his 180,200 Twitter followers that leading smart contract platform Ethereum is set to break out against Bitcoin (ETH/BTC).
“ETH/BTC when, not if.”
According to Smart Contracter’s chart, the pair could take out its diagonal resistance and rally to above 0.14 BTC ($8,913), a level last reached during the final leg for the 2017 bull cycle.
Ethereum is trading at around $4,650 while Bitcoin is exchanging at around $64,185 at time of writing.
Late last month, the popular crypto analyst predicted Ethereum would reach a price of $10,000, saying the ETH/BTC pair had broken out of a large inverse head and shoulders formation (IHS), a technical pattern indicating the start of an uptrend.
“ETH/BTC is still huge IHS [inverse head and shoulders pattern] breakout after a three-year base.
It may have been somewhat boring the last few months but make no mistake about it, this is re-accumulation in a monster uptrend.
$10,000 ETH isn’t a meme.”
In the case of Binance Coin (BNB), Smart Contracter says the utility token of global crypto exchange Binance is still on track to record a fresh all-time high (ATH) above $800.
“BNB still looks amazing, ATH still 100% on the table imo (in my opinion).”
In June 2018, when Bitcoin was trading at over $5,500, Smart Contracter predicted that the flagship cryptocurrency would bottom out at around $3,200. Bitcoin went on to reach a low of around $3,150 six months later.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/thvideostudio/prodigital art
