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

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

A popular crypto strategist is predicting a new advance for Ethereum (ETH) while charting an upward trajectory for Bitcoin (BTC).

In a new strategy session, analyst alias Donalt says he is closely watching how Ethereum reacts at the $1,700 level.

DonAlt predicts that ETH will break the $1,700 resistance en route to its $2,500 target.

“What we’re doing now is basically we’ve recovered this complete meltdown, so for me, this is basically a fully re-engineered setup to like resistance but tested before and tested very recently. I don’t think $1700 is going to do much [as resistance]. I could be completely wrong…but to me, it looks like he wants to teleport…

Although it is resistance, I am anticipating the upside.”

The crypto strategist also says that ETH looks bullish in the higher time frame, after enduring an evil downtrend since December 2021.

“Look at that [monthly] The candle and how awesome it was shaped, just exactly what I wanted to see. You have a great monthly candle (July) followed by a candle that makes people fear (August) and then it keeps working. This is a look I haven’t seen in a while for ETH… Now, it’s starting to look kinda good again clearly due to a shift in narrative 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 BTC will look “really really good quickly” if it can flip the resistance around $21,000 to support it.

“I really like the momentum we have today that is not necessarily caused by [the stock market]. Bitcoin is up 7%. Syrian Pound [500] It rose 0.4%. The S&P index has risen over the past few days. Basically Bitcoin captured, backed up but more so than S&P so far. So I don’t hate her…

If we start going back to above $22,300 or that area…if we get that back, it’s going to start looking really good. until that happens, [there’s] I still don’t need to be overly excited, but I don’t really mind the graph right now.”

Source: DonAlt / YouTube

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


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