Popular crypto analysts are looking at how some of the major altcoins overlap with Bitcoin (BTC) to see which assets are likely to regroup.
In a new strategic session, Nicholas Melten told 511,000 YouTube subscribers that the recent macroeconomic and geopolitical turmoil has previously overwhelmed the altcoin market.
However, Merten states that current volatility is likely to offer the next Bullan opportunity, led by several altcoins, including Ethereum (ETH).
“Generally speaking, Ethereum has established higher and significant highs, one here in May and the other in December 2021.
And it continues to establish higher lows. “
DataDash host mentions Ethereum for Bitcoin (ETH / BTC),
“Almost a year later, Ethereum has been sideways integrated with Bitcoin, establishing these highs.
This is generally a bullish trend. “
At the time of writing, Ethereum was up 1.26% on the day and trading at $ 2,802.
Analysts have moved to Binance Coin, Binance’s native token, pointing out that BNB is a crypto space giant and its rapidly expanding user base could quickly be reflected in its price. increase.
“Here, the resistance of BNB is generally consistent at around 0.012 BTC ($ 496). We can see that this trend is consistently rising as the lows rise. This is the third time. Retests and breakouts can be high. “
BinanceCoin is currently priced at $ 382.62.
The Data Dash host then looks at XRP and first notices that global events could be in favor of altcoin.
“While controversial in the field of XRP, cryptocurrencies, I would like to go ahead and highlight the ongoing geopolitical issues. XRP, and therefore Ripple’s technology, is marketed in all censorship. What’s happening around the SWIFT payment network regarding what may be around [Russia/Ukraine] The crisis that is currently being elucidated …
I’ve seen bulls start buying XRP for BTC at a higher price …
If we are entering the bear market even at this time when the market is in terror, why are people paying a high premium for altcoin for Bitcoin? Generally it doesn’t make sense.
I think this is a slight sign of self-confidence. “
XRP is the sixth-ranked crypto asset by market capitalization, up 1.15% to $ 0.75 on the day.
The last altcoin on Melten’s radar is Ethereum’s rival Cardano (ADA).
“This is starting to approach the price range, which I personally are looking for some important level of support to test.
I think about 2000 Satoshi ($ 0.78), this is a very important range to look at … to see what happens when the price goes down and retests 2000 Satoshi … If that level collapses, it can be a really annoying aspect for Cardano. “
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Featured images: Shutterstock / sweet kiwi / Natalia Siiatovskaia
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