Ethereum
Ethereum Will Turn “Really Bullish” If This Happens, Crypto Analyst Predicts
A widely followed cryptocurrency analyst and trader believes that Ethereum (ETH) could see a massive increase if a scenario occurs in the short term.
The pseudonymous analyst known as Credible Crypto tell its 394,900 followers on social media platformBTC) drops into a lower $60,000 range.
“ETH still holds this inverted resistance [in the $3,300 range] which acts as support so it doesn’t look so bad at the moment. Again, with my main scenario being a BTC split between $62,000 and $63,000, I think we’ll probably end up falling back below that, but for now it looks okay…
If by the time we get to $62,000-63,000 on BTC and ETH still holds this region [above $3,360]that would probably be really really optimistic.
Source: Crypto/X credible
Ethereum is trading at $3,721 at the time of writing, down more than 2% in the last 24 hours. Meanwhile, Bitcoin is trading at $68,253 at the time of writing, flat for the day.
Then the analyst warns Solana (GROUND) may collapse against Bitcoin (SOL/BTC) if the crypto king falls to $62,000 and then continues to rise. He says Solana could face a significant corrective action as he believes market participants will rotate their capital to take advantage of the next upward burst for Bitcoin.
“The scenario below shows how I see things regarding BTC and SOL right now. This is all triggered/comes into play during a BTC split between $62,000 and $63,000. Note that it is only possible to be bearish SOL and bullish BTC simultaneously only due to the confluence with the SOL/BTC chart resembling a distribution top… When looking at SOL in this context [SOL/BTC] graphic, it makes sense.
Source: Crypto/X credible
SOL/BTC is trading at 0.00245 BTC ($167) at the time of writing, down almost 3% in the last 24 hours.
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