This Altcoin Is A Solid Bet! It Can Be Parabolic

Crypto analyst Benjamin Cowen takes a look at the latest status of the leading altcoin project after the widespread correction that wiped out nearly $600 billion from the market. cryptocoin.com We are reviewing Cowen’s current analyzes that we have compiled.

Analyst expects parabolic rise from Ethereum

Cowen says in a recent strategy session that he has historically seen many phases where Ethereum consolidated for a long time before making parabolic moves like in 2016 and 2019. According to the analyst, ETH’s latest correction is in the consolidation phase rather than the bear market. He also notes that at the height of the crash, Ethereum only reached prices seen in the previous month. Here’s Cowen’s analysis:

I think we will rise again, but we are not there yet. We are still in a situation that I would consider as a long consolidation and I do not think we can definitely go up to these prices (+$50,000) here, but I argue that Etheruem is still in a long accumulation, long consolidation.

While Cowen says hopes for a parabolic fourth quarter for the crypto market may come to an end, he adds that Ethereum (ETH) is still solid game and warns not to underestimate ETH:

Ethereum still looks strong and I think it should be in your portfolio. In addition, it is still a very strong blue-chip project against its rivals. The technology is also great. It holds up well against Bitcoin. Despite the conditions, it holds up well against the dollar. Do not abandon Ethereum.

Bitcoin and altcoin market recovering

After the selling pressure created by the Omicron variant and Evergrande news, there was a pullback of up to 30% across the market. While $ 15,600 was erased from the Bitcoin price in 24 hours, Ethereum fell to $ 3,500. This decline is compensated across the market, especially Bitcoin and Ethereum. Today, Bitcoin is up 6.45% to $51,415.26, while Ethereum is up 8.58% to $4,428.59. At the time of writing, BitTorrent (BTT) was the most profitable altcoin, up 65% in the last 24 hours.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.


source site-1