The broader crypto market has recovered from the collapse, with BTC now trading at $65,800 and ETH trading at $4,700. The majority of the top altcoins on the chart are trading in the green, recouping yesterday’s losses. Shiba Inu, on the other hand, has not recovered and is still down 3.8 percent.
Two of the top crypto assets by market value, according to a leading cryptocurrency analyst and trader, are poised for a rise.
Smart Contracter, a pseudonymous analyst, informs his 180,200 Twitter followers that Ethereum, the top smart contract platform, is about to break out with its Bitcoin (ETH/BTC).
According to Smart Contracter’s chart, the pair has a chance to break above the diagonal barrier and climb above 0.14 BTC ($8,913), a level last seen during the 2017 bull cycle’s last leg.
Late last month, the analyst projected that Ethereum will hit $10,000, claiming that the ETH/BTC pair had broken out of a massive inverse head and shoulders formation (IHS), a technical pattern that indicates the start of an upswing.
After a three-year base, ETH/BTC is still a massive IHS [inverse head and shoulders pattern] breakout.
He explains that it may have been a little dull in recent months, but make no mistake: this is re-accumulation in a massive rally – $10,000 in Ethereum isn’t a joke, he adds.
At the time of writing, Ethereum was trading at roughly $4,718, while Bitcoin was trading at around $65,985.
Binance Coin (BNB)
Binance Coin (BNB), the utility token of global crypto exchange Binance, is still on course to set a new all-time high (ATH) above $800, according to Smart Contracter.
“BNB still looks wonderful, and ATH is still 100% on the table in my opinion”
At the time of writing, BNB is trading at $653.53 up by 1.1% in the last 24 hours. The resistance on the upside is at $661.26 and support on the downside is at $638.26.