bt-crow.com
25 November 2021 19:50, UTC
Reading time: ~ 2 m
The crypto strategist believes Ethereum (ETH) is preparing for an impressive rally that will eclipse other cryptocurrencies.
Justin Bennett told his 90,400 Twitter followers that setting ETH on the Bitcoin (BTC) chart could cause cryptocurrency number two to jump to 0.105 and 0.160 BTC, which is around $ 6,000 and $ 9,100.
ETH / BTC looks peppy. I think ETH will surpass almost everyone in the coming weeks.
When looking at broader cryptocurrency trends, the analyst suggests that in addition to BTC, ETH may also offer investors clues about where the markets are heading.
Everyone is looking for clues on BTC in this cycle. But what if ETH becomes a leading indicator?
With a market cap of half a trillion dollars and a market dominance of 19%, Ethereum is by no means a poor cousin. It’s time to pay equal attention to both [эфириуму и биткоину], – suggested the analyst.
Bennett then delved deeper into Ethereum price levels. He called $ 4,000 a critical support, he sees resistance at $ 4,600, taking it as a much higher chance of breaking.
The potential upper low for ETH is above $ 4000. I think this is optimistic.
$ 4400 is resistance, then tu ze mun begins.
At the moment, ETH has risen to $ 4,518, which is almost 7% more expensive than in the previous 24 hours.
According to Bennett, bitcoin should maintain support at $ 55,000 and overcome resistance at $ 60,000, only in this case a return to a new all-time high of about $ 69,000 is possible.
BTC looks pretty good for a rally back to the $ 63,000 area. It is necessary to keep the line at the level of $ 55,000 and overcome $ 60,000.
In the next tweet, Bennett inspired the community that BTC could break the red candlestick on the chart.
BTC, so far so good. Break this 4-hour trendline and we’re in business.
$BTC, so far, so good.
Break this 4-hour trend line and we’re in business.#Bitcoin https://t.co/kwecxwGFiX pic.twitter.com/ywjhFA57xz
— Justin Bennett (@JustinBennettFX) November 23, 2021
The bitcoin price seemed to support the cryptanalyst’s forecast and is confidently moving up, leaving behind the $ 59,200 mark.
#Analyst #sees #Ethereums #potential #outperform #Bitcoin
