Ethereum

Bitcoin

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 A crypto analyst who nailed the top of Bitcoin’s (BTC) 2021 bull market says that Ethereum (ETH) is well-positioned to move another leg up after suddenly entering a new trading range.
 Pseudonymous analyst Pentoshi tells his 706,400 followers on the social media platform X that Ethereum could soar more than 21% from its current value.
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 “ETH: closing this weekly back inside the range opens up the doors to $2,200.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9nURnMW4AACqjN?format=jpg&amp;name=4096x4096" alt="Image" width="3018" height="1906">
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 Source: Pentoshi/X
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 Looking at his chart, the analyst believes that ETH convincingly crossed the lower bound of a new trading range between $1,796 and $2,200.
 The analyst also says that Ethereum against Bitcoin (ETH/BTC) corrected to a key psychological level, indicating a bounce is likely.
 “Despite it severely underperforming BTC, it’s now beginning to enter the demand zone on the ETH/BTC ratio.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9nVtXrWkAAZpQz?format=jpg&amp;name=4096x4096" alt="Image" width="3024" height="1904">
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 Source: Pentoshi
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 ETH/BTC is trading for 0.0524 BTC ($1,810) at time of writing.
 The analyst also weighs in on Bitcoin, and he predicts that the top digital asset will remain in an uptrend as long as a key price range holds as support.
 “BTC is bullish as long as [it remains] above the $31,500-$32,500 area. Thus, I’ll continue to have bullish bias unless a deviation occurs as an invalidation.”
 The analyst also believes Bitcoin could continue to rally across the $40,000 level in the coming weeks.
 “The most important levels to play [are] marked. Closing below purple equals likely deviation and invalidation. $40,000-$42,000 on the table in the weeks ahead.”
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" loading="lazy" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9o1r2LWMAA2tqm?format=jpg&amp;name=medium" alt="Image" width="1199" height="754">
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 Source: Pentoshi/X
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 Bitcoin is trading for $34,511 at time of writing.
 Lastly, the analyst updates his outlook on artificial intelligence (AI) altcoin Fetch.AI (FET). He predicts a period of consolidation before a move toward the $0.496 range high.
 “Update: likely going to get a little consolidation around this area which is the mid-range of the larger resistance and support mapped out, especially after such a strong move. So [I’m] expecting a small pullback and some sideways over the next few days before any attempts to go to the top of that previous range on FET.”
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" loading="lazy" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F9nObFqXEAAES_G?format=jpg&amp;name=4096x4096" alt="Image" width="3024" height="1932">
 <figcaption class="wp-caption-text">
 Source: Pentoshi/X
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 FET is worth $0.36 at time of writing.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-says-doors-are-open-for-ethereum-rally-updates-outlook-on-bitcoin-and-one-ai-focused-altcoin-tbt68595.html">https://thebittimes.com/crypto-analyst-says-doors-are-open-for-ethereum-rally-updates-outlook-on-bitcoin-and-one-ai-focused-altcoin-tbt68595.html</a>

Crypto Analyst Says Doors Are Open for Ethereum Rally, Updates Outlook on Bitcoin and One AI-Focused Altcoin

TheBitTimes

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