A leading crypto trader is expressing bullish sentiment on the second-largest crypto asset by market cap, Ethereum (ETH).
Pseudonymous analyst DonAlt tells his 51,000 YouTube subscribers that Ethereum could surge by around 36% from current levels if it manages to turn a key resistance level into support.
“I think we could see a nice bump on ETH…
We had a breakout attempt [at around $1,900] that got immediately shut down, but we did not have any follow-through. And if you don’t get any follow-through on something like this, there’s a chance that you creep back up.
And the moment we do, the moment we close back above $1,900, I think this goes and then we can easily squeeze to $2,500.”
Ethereum is trading at $1,840 at time of writing.
Looking at XRP, DonAlt says that the sixth-largest crypto asset by market cap is showing signs of a possible breakout.
According to the pseudonymous analyst, the looming judgment on the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple is driving the interest in XRP.
“XRP has been excellent as well. Same kind of setup [as Litecoin], just a little bit stronger than Litecoin.
This is based on people speculating on the SEC case going well for XRP. Also walking up in a staircase pattern and this looks like it wants to kind of just go!”
XRP is trading at $0.519 at time of writing.
Turning to Dogecoin (DOGE), the pseudonymous crypto analyst says that the leading memecoin’s reputation has suffered lately and its price action is on a persistent downward trend.
“I think Doge has been sullied…
I traded it a little bit when Elon [Musk] changed the Twitter logo [to a Doge]…
Caught that [upside wave from around $0.076 to over $0.10] because I saw it early and then held because I was like Elon might do a little bit more with it. But turns out he was just in it for the pump and dump…
I’m also not interested in this kind of chart – it’s walking down, it’s walking down again. And this actually looks very fractal if you think about it. So move up, bounce down. You have a move up, bounce down. So right now, not too pretty.”
Dogecoin is trading at $0.068 at time of writing.
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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 cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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