A crypto analyst with a large following says that the leading altcoin Ethereum (ETH) is poised for a parabolic rally and the risk-reward ratio of the leading crypto Bitcoin (BTC) looks attractive.
Analyst expects boom for leading altcoin
crypto analyst alias TechDev, leading altcoin Ethereum currently has 393,000 Twitter followers from late 2016 and early 2017 and he says it reflects a pattern where ETH prints a bearish price action before it explodes:
Update on the ETH idea.
Source: TechDev/Twitter According to the analyst’s chart, crypto strategist says ETH has dropped to $24,000 as Ethereum’s volume and momentum indicator shows that the correction for the leading smart contract platform is over. believes he is ready for a rally to the dollar range or about 780% from current prices.
At the time of writing, Ethereum was trading at $2,564, losing 4.75% in the last 24 hours, according to CoinMarketCap data. The leading altcoin is currently 47% off its all-time high of around $4,900.
TechDev: Panic will get you nowhere!
Looking at the leading crypto Bitcoin (BTC), TechDev says the largest crypto asset by market cap is in bullish accumulation zone despite uncertain sentiment and price action:
Bitcoin inverse asymmetry looks strong . The asymmetry is still there. The accumulation is still there. Panic will get you nowhere.
Source: TechDev / Twitter Crypto analyst, whose views we have included in cryptokoin.com news, also pays attention to some on-chain developments in Bitcoin behind the scenes. . The analyst looks at data from Blockchain analytics firm Glasnode, which records the percentage of BTC that hasn’t moved in at least a year. The analyst points out that the all-time highs on the metric tend to coincide with the start of bottoms and bull runs in Bitcoin:
Bitcoin supply percentage was last active on ATH more than a year ago with a 100-day exchange rate rollover. .
Source: TechDev / Glassnode / Twitter The leading crypto was trading at $34,530 at the time of writing, down 3.96% on a daily basis. Bitcoin is currently 50% off its $69,000 ATH.
