A popular crypto strategist believes that the leading altcoin Ethereum (ETH) will outperform Bitcoin and eventually overtake BTC.
The analyst, known to the crypto community as Altcoin Sherpa, told 193,300 Twitter followers that he followed Ethereum’s chart against Bitcoin (ETH/BTC). told.
According to the crypto trader, Bitcoin will continue to lead the market in the short term and then Ethereum will come to the fore.
“ETHBTC: I wouldn’t be surprised if I see a bounce at these levels, but I think it will go up to 0.055 (BTC) in the coming months. I think BTC will outperform Ethereum a bit and then ETH will explode.”
At the time of writing, ETH/BTC is trading at 0.065 BTC ($1,824). According to the analyst’s chart, a move towards the target of 0.055 BTC ($1,543) indicates higher low setup for ETH/BTC on the weekly time frame.
Altcoin Sherpa also rated BNB, the native token of crypto exchange Binance. The analyst thinks BNB is about to break a key resistance level that has continued its downtrend since May 2022.
“BNB: When will this area break? It closed above this level on the two-day chart for the first time since the last divergence in November 2022 – I’m watching the $330 level closely.”
At press time, BNB is trading at $337, slightly above the trader’s resistance.
Another altcoin on the analyst’s radar is MASK. According to altcoin Sherpa, MASK appears to be bullish but it is likely to witness a pullback before the next uptrend.
“MASK: It looks very strong but in an area of resistance; I would wait for $5 for the opportunity to buy at the bottom. $5-4.50 seems like a solid entry area.”
Koinfinans.com As we reported, the last altcoin the trader is following is the decentralized borrowing protocol Liquidity (LQTY). Altcoin Sherpa believes that LQTY can now consolidate in preparation for the next rally.
“LQTY: I’m watching this. I’m not sure if I’ll buy it; The focus may be on BTC for now. alt/btc will likely drop further in the short term.”
You can check the price movements here.