A popular cryptocurrency analyst predicts that Ethereum (ETH) and Binance Coin (BNB) will rally. Analyst says bearish time is over for these altcoin projects
“The bearish period for the leading altcoin is definitely over”
A crypto analyst nicknamed the ‘Smart Contracter’, who predicts the 2018 low for Bitcoin, predicts that Ethereum (ETH) and Binance Coin (BNB) will explode. In addition, the analyst correctly predicted the level of $ 3,200 seen in Bitcoin in 2020. Analyst’s successful predictions cryptocoin.comYou can take a look at this article. Smart Contracter says leading smart contract platform Ethereum has reached a bullish milestone this week after recovering a key alt indicator. The analyst makes the following statement:
ETH retraced its 200-week moving average this week. BTC will likely do the same next week. In my opinion, the period of decline is definitely over.
Smart Contracter follows the psychology of market participants, which tends to manifest in waves. In this way it uses Elliott Wave theory, which is a technical analysis approach that tries to predict future price action. Looking at the analyst’s chart, it appears that Ethereum has completed an ABC wave and the trend has reversed.
The crypto analyst is also keeping an eye on Ethereum versus Bitcoin (ETH/BTC). Smart Contracter predicts a steep rise from its current price of 0.069 BTC ($1,528) to 0.10 BTC ($2,215) for the pair. According to CoinMarketCap data, ETH is trading at $1,571, up 7.84% in the last 24 hours. In this context, the analyst makes the following statement:
ETH/BTC is getting stronger, easily clearing the 0.065 resistance. Maximum pain probably leaves the bears and MuH macro experts on the sidelines without retests or optimal entries.
BNB/BTC ready to print ATH, according to analyst
Another altcoin on the analyst’s radar is Binance Coin, the local asset of crypto exchange giant Binance. Smart Contracter also looks at BNB’s stance against Bitcoin (BNB/BTC). The analyst says it looks ready to print all-time highs. The analyst shares the following assessment for BNB/BTC:
BNB/BTC is on the verge of exiting almost a year and a half of consolidation. Once it’s done, I think it’ll send it full with no peak resistance in sight.
At press time, BNB/BTC is trading at 0.0117 BTC ($258.94). It is also close to hitting the Smart Contracter’s resistance around 0.012 BTC ($265.58). According to CoinMarketCap data, BNB is trading at $273.34, gaining 6.56% in the last 24 hours.
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