One of the popular strategists of the crypto world. Justin Bennett, EthereumHe thinks that ETH (ETH) is poised for an impressive rally that will outshine other assets in the crypto market.
90,400 followers twitter Sharing his analysis on his account, Bennett stated that Ethereum’s setup on the Bitcoin (BTC) table may jump to the levels of 0.105 and 0.160 BTC and increase to an average of $ 6,000 to $ 9,100 with current values.
“ETH/BTC looks ready. In the next few weeks, I think ETH is outpacing pretty much everything else.”
The analyst suggests that given the broader crypto trends, ETH could offer investors clues as to where the markets are headed.
“Everyone is looking to BTC for clues about this cycle. But what if ETH becomes the leading indicator?
ETH is not lazy at all, with a half-trillion dollar market cap and 19% market cap. I think we need to pay equal attention to both.”
Bennett later EthereumHe focused on the price levels of . The analyst sees a break of $4,600 as a much higher chance of exit.
“$4,400 is a resistance right now. If it’s over $4,600, we ‘go to the moon’”.
ETH is trading at $4,245, down 2.45% on the day.
bitcoinJustin Bennett, who also looks at , says that if Bitcoin is to hope for a relief rally after dropping from its all-time high of $68,500 recently, it needs to hold $55,000 and cross $60,000.
“BTC looks pretty good here for a relief rally to the $63,000 region. BTC needs to hold the support line at $55,000 and cross $60,000.”
Bennett stated that he will maintain his optimism as long as BTC continues to fight the red candle on the chart.
“BTC has been very good so far. Let’s break this 4-hour trend line and get down to business.”
Bitcoin is currently trading at $57,097.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.