The cryptocurrency market rose after the US Nonfarm Payrolls data came in below expectations. The leading cryptocurrency Bitcoin managed to regain the level of 61 thousand dollars. The leading altcoin Ethereum also finally rose above 3 thousand dollars. An analyst with a wide following draws two alternative paths for Bitcoin. In addition, the analyst shares two altcoins that are eyeing for the exit.
“This altcoin is basically begging to break out!”
cryptokoin.comAs you follow from , the market went through a bloodbath during the week. During this period, Bitcoin dropped to 56 thousand dollars. However, BTC and altcoins have been compensating their losses for the last two days. Popular analyst with the pseudonym DonAlt says that the price action of BNB, BNB Chain’s native token, currently indicates major upside potential. In this context, the analyst makes the following statement:
I love BNB… I love the BNB chart. This is BNB/USD [grafiği], basically begging to debut. I think this dip would just be a buy.
According to the analyst, the fourth-largest crypto asset by market cap would become unattractive for a long opportunity if it falls by around 20% from its current level. The analyst expresses his views on this subject as follows:
Anything below $450 will start to look a bit risky. But overall this seems very strong. If you look at the BNB/BTC pair, you see what absolute dominance looks like. This is actually a really good looking chart. So if you want to have a really good looking coin… BNB is one of them. This chart looks perfect.
The target for the leading altcoin is 4 thousand dollars!
The analyst then looks at the leading altcoin Ethereum (ETH). Meanwhile, Ethereum is trading at $3,047 at the time of writing. DonAlt says the following about Ethereum:
If the weekly close this week is above $3,000… then maybe we can talk about returning to $4,000. So at this point I’m more bullish on ETH than I’ve been in almost years.
Two alternative routes for Bitcoin
Finally, the analyst covers the leading cryptocurrency Bitcoin (BTC). Meanwhile, Bitcoin is trading at $61,121 at the time of writing. According to DonAlt, Bitcoin’s behavior around two key levels will signal where the leading crypto asset will head next. In this context, the analyst shares the following alternative goals:
In my opinion, any close above $70,000 on the monthly chart will probably head towards $80,000, $90,000… Any close below $57,000 will probably head towards $45,000.
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