dailyhodl.com
A leading cryptocurrency analyst and trader is predicting that two of the largest crypto assets by market cap are primed for a rally.
The pseudonymous analyst known as Smart Contracter tells his 180,200 Twitter followers that leading smart contract platform Ethereum is set to break out against Bitcoin (ETH/BTC).
“ETH/BTC when, not if.”
According to Smart Contracter’s chart, the pair could take out its diagonal resistance and rally to above 0.14 BTC ($8,913), a level last reached during the final leg for the 2017 bull cycle.
Ethereum is trading at around $4,650 while Bitcoin is exchanging at around $64,185 at time of writing.
Late last month, the popular crypto analyst predicted Ethereum would reach a price of $10,000, saying the ETH/BTC pair had broken out of a large inverse head and shoulders formation (IHS), a technical pattern indicating the start of an uptrend.
“ETH/BTC is still huge IHS [inverse head and shoulders pattern] breakout after a three-year base.
It may have been somewhat boring the last few months but make no mistake about it, this is re-accumulation in a monster uptrend.
$10,000 ETH isn’t a meme.”
In the case of Binance Coin (BNB), Smart Contracter says the utility token of global crypto exchange Binance is still on track to record a fresh all-time high (ATH) above $800.
“BNB still looks amazing, ATH still 100% on the table imo (in my opinion).”
In June 2018, when Bitcoin was trading at over $5,500, Smart Contracter predicted that the flagship cryptocurrency would bottom out at around $3,200. Bitcoin went on to reach a low of around $3,150 six months later.