Ethereum (ETH) ‘Monster’ Rally Coming, More Altcoins Set to Outperform, Says Top Crypto Analyst
A popular crypto analyst known for calling the Bitcoin (BTC) bottom of 2018 is predicting a massive rally for Ethereum (ETH).
The pseudonymous analyst smart contracter tells his 221,400 Twitter followers that Ethereum appears to be at the end of a correction and is poised for a surge.
“ETH/BTC just hit a six-month low, just 3% lower ahead of my main buy zone.
Not the circumstances I was expecting (I thought ETH and BTC would fall, but ETH even more), but there’s no chance I’ll miss out on the monster ETH rally to come.”
Source: Smart Contracter/Twitter
Looking at his chart, the analyst shows ETH/BTC in a downward correction and about to tap the crucial 0.618 Fibonacci retracement support, which traders see as a likely point for a bounce.
The bullishness of smart contracters in relation to ETH comes as crypto analytics platform Santiment says Sharks amassed 3.61 million ETH coins worth a whopping $6.13 billion over the past year.
However, whales discharged more than twice that amount.
“The big names in Ethereum have significantly shifted their supply. Addresses with 10-10,000 ETH have collectively added 3.61 million coins over the past year. Meanwhile, addresses with 10,000-10,000,000 ETH collectively dumped 9.43 million in the same period.”
The crypto analyst also says that Optimism (OP) is also looking bullish.
“Bullish expanded flat daily for OP against USD, BTC and ETH pairs. Looks like one of the alternatives that I think will do very well.”
Source: Smart Contracter/Twitter
Using Elliott Wave Theory, an advanced technical analysis method that predicts future price movements based on crowd psychology that manifests itself in waves, Smart Contracter says that optimism comes at the end of a correction and sets the stage for an upward move.
Source: Smart Contracter/Twitter
Ethereum is worth $1,819 at the time of writing and Optimism is trading at $2.57.
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