Renowned cryptocurrency analyst Altcoin Sherpa said that Ethereum (ETH) is likely approaching a cycle bottom in the Bitcoin pair (ETH/BTC).
An anonymous trader tells his 230,000 followers on social media platform
“I know everyone is talking about Altseason now and no one wants it more than me. But I think BTC will need to temporarily complete its run for Alter to run (aka January 2021).
ETH will probably find a bottom compared to BTC in the coming months. This or 0.024 is the area I am observing.”
As of this writing, ETH/BTC is trading at 0.034 BTC, equivalent to $3,314. A correction to the analyst’s low target of 0.024 BTC would represent a nearly 30% downside move for the pair.
Altcoin Sherpa is also looking at XRP, the native token of the XRP Ledger (XRPL), which is up about 180% this month alone. The trader said XRP will be one to watch in the upcoming altcoin season.
“XRP is very close to its old 2021 highs.
Wild This product went up to $3 in 2017.
These dollars will probably flow to DOGE, but nonetheless remains to be seen. “Many years of accumulation.”
As of this writing, XRP is trading at $1.38.
Altcoin Sherpa also reveals some of his highest conviction holdings, including Bitcoin, Ethereum, Solana (SOL), memecoins, and altcoins from the artificial intelligence (AI) sector.
“Current bag:
Major BTC/ETH/SOL
spot doji
Spot BONK.
If I were fully in the office, I would get utility coins from the spot (market).
On-chain:
Various AI bags such as GOAT, ZEREBRO, etc.
Other bets like KEYCAT, NPC, BONGO.
“I’m trying to focus more.”
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