Top Analyst Says Ethereum To Start Looking ‘Really Really Good’ if Major Level Is Reclaimed – Here’s His Outlook

A top cryptocurrency analyst and trader is saying he’ll turn bullish on Ethereum ( ETH ) if it breaks through one key resistance level.

The analyst pseudonymously known as DonAlt tells the 62,300 subscribers of the Technical Roundup YouTube channel that if Ethereum reclaims $2,800 on the weekly timeframe it could set ETH up for much larger gains.

“I still find ETH interesting. But I would like it to trade above here… $3,000 is the line in the sand. If you get back above $3,000, ETH gets really, really good. And I think at this point, $2,800 is the new line in the sand for me. So at $2,800, it starts looking really good…

Someone asked if ETH doesn’t make a new all-time high this cycle whether that is going to lead to an ETH death spiral. I don’t think so. Just generally, Bitcoin is the best cryptocurrency by far, and ETH is the second best cryptocurrency by far.”

Source: DonAlt/YouTube

He also suggests that ETH in its Bitcoin pair (ETH/ BTC ) could be gearing up for a massive breakout if the trading pair consolidates for a while around its current value.

“ETH/BTC can – on this monthly [chart] – spend like six months down here and still be fine. I actually like it somewhat. You had this whole distribution here, you started moving down, if you start accumulating and start going back up the chart looks incredible.”

Source: DonAlt/YouTube

ETH/BTC is trading for 0.03953 BTC ($2,380) at time of writing, up 1.33% in the last 24 hours.

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