fbpx

Analyst Justin Bennett feels that Ethereum is getting ready for a rally that will outperform others in the crypto markets. The analyst tweeted that Ethereum’s setup on the BTC trading chart could see the crypto jump toward the 0.105 and 0.160 BTC levels.

Having considered broader crypto trends, Justin suggests that ETH could also provide investors with clues about where the crypto markets are going. Justin Bennett said:

“Everyone is looking to BTC for clues about this cycle. But what if ETH becomes the leading indicator? At a half a trillion dollar market cap and 19% market dominance, Ethereum is no slouch. Time to pay equal attention to both, [in my opinion].”

Bennett then analyses the price levels of Ethereum. He cites $4,000 as critical support. The analyst also sees a breach of $4,600 as an opportunity to break out much higher.

Ethereum is presently valued at $4,245. Justin Bennett reveals that Bitcoin has to break past $60,000 and must hold $55,000 if it desires a relief rally.

“BTC looks pretty good here for a relief rally back to the $63,000 region. Needs to hold the line at $55,000 and get through $60,000.”

In another tweet, Bennet maintains a positive mindset as long as Bitcoin can overcome a red candle on the chart.

“BTC, so far, so good. Break this 4-hour trend line and we’re in business.”

Disclaimer: Information found on Blue Edge Crypto is those of writers quoted. It does not represent the opinions of Blue Edge Crypto on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.