Popular Analyst Says Ethereum (ETH) Could Teleport, Explains How Bitcoin (BTC) Could Look Really Good Fast

A famous crypto strategist predicts a new lead for Ethereum (ETH) as he plots a bullish path for Bitcoin (BTC).

In a new strategic session, pseudonymous analyst DonAlt says he is keeping an eye on Ethereum’s reaction to the $ 1,700 level.

DonAlt expects ETH to cut the $ 1,700 resistance en route to its $ 2,500 target.

“What we are doing right now is basically that we have recovered the entire fault, so for me this is basically an entire configuration recovered in a similar resistor but which has been tested before and which has been tested very, very recently. I don’t think $ 1,700 will do much [as resistance]. I could be completely wrong … But it seems to me that he really wants to teleport to …

Even if it is resistance, I expect an upside. ”

The crypto strategist also says that ETH looks bullish over a longer time frame after experiencing a violent downtrend since December 2021.

“Look that [monthly] candle and how much is taking shape, just exactly what I wanted to see. You have a great monthly candle (July) followed by one that drives people crazy (August) and then you keep moving forward. It’s something I haven’t seen in a while for ETH … Now, it’s starting to look good again, of course, due to a narrative shift and a new narrative in town.

Source: DonAlt / YouTube

At the time of writing, ETH is trading at $ 1,762.

As for Bitcoin, DonAlt says that BTC will look “really good very fast” if it manages to overturn the resistance of around $ 21,000 to support.

“I really like this momentum we have today which isn’t necessarily caused by [the stock market]. Bitcoin is up 7%. The S&P [500] is up by 0.4%. The S&P has been rising in the past few days. Bitcoin just snapped, picked up with it, but so far more so than the S&P. So I don’t hate it …

If we start coming back above $ 22,300 or that area … if we claim it, it starts to look really good. Until that happens, [there’s] still there’s no reason to be overly excited, but I don’t really mind the chart right now.

Source: DonAlt / YouTube

At the time of writing, Bitcoin is trading hands for $ 21,344.

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