Top Analyst Predicts Ethereum Explosion, Updates Outlook on Binance Coin and Two Low-Cap Altcoins
A popular crypto strategist believes that Ethereum (ETH) will catch up to Bitcoin’s (BTC) performance and eventually begin to surpass the top crypto asset by market capitalization.
Pseudonymous analyst Altcoin Sherpa tells his 193,300 Twitter followers that he’s keeping an eye on the Ethereum vs. Bitcoin (ETH/BTC) chart.
According to the crypto trader, he believes that Bitcoin will continue to lead the market in the short term with Ethereum breaking out later.
“ETHBTC: I wouldn’t be surprised to see this bounce around this level, but I think ultimately it goes to 0.055 (BTC) in the coming months. I think BTC outperforms Ethereum for a while and then explodes ETH later. It had a multi-year build-up. This is probably the same case.”
At the time of writing, ETH/BTC is trading at 0.065 BTC, or $1.824. Based on the trader’s chart, a move towards his target of 0.055 BTC ($1,543) suggests a bullish higher low setup for ETH/BTC on the weekly timeframe.
Looking at BNB, the utility token of crypto exchange Binance, Altcoin Sherpa believes the fourth largest crypto by market capitalization is threatening to take out a key resistance level that has kept it bearish since May 2022.
“BNB: When is this area going to break? First two-day close since last divergence in November 2022 – watching this $330 level closely.”
At the time of writing, BNB is trading at $337, just above the trader’s resistance level.
Next up is MASK, the governance token of privacy-centric crypto project Mask Network. According to Altcoin Sherpa, MASK looks bullish but is likely to witness a retracement before the next leg up.
“MASK: Looks very strong but in a resistance area; would look for $5 for a dip buying opportunity. $5-$4.50 seems like a solid entry range.”
At the time of writing, MASK is worth $5.88.
The latest altcoin on the trader’s radar is decentralized lending protocol Liquity (LQTY). Altcoin Sherpa believes that LQTY may currently consolidate in preparation for the next rally.
“LQTY: Looking at this.”
Looking at the trader’s chart, it appears that he wants to rally LQTY at current prices invalidating his bullish view below $2.39. At the time of writing, LQTY is worth $2.41.
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