Prominent cryptocurrency trader DonAlt, known for accurately forecasting XRP’s 700% surge in 2024, has revealed that he is starting to acquire Ethereum (ETH) despite traditionally unfavorable timing.
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AAPLStrategic buying at resistance
DonAlt disclosed that he purchased ETH directly at a local resistance level on the weekly chart, acknowledging the unconventional nature of his move. Ethereum is now trading near $1,878, with the key resistance zone lying between $2,000 and $2,200. Typically, traders avoid entering long positions at such levels due to an elevated risk of market correction.
In his recent explanation, DonAlt stated that waiting too long for an ideal entry had become psychologically taxing. He felt more comfortable holding some ETH at an imperfect price than remaining out of the market. He plans to increase his position if the price revisits the main support area.
Bought some and will buy some more in the coming days. Feels a bit unreasonable to buy resistance but I feel less comfy not having it than having some at not the optimal price. Will buy more if we retest green but have been waiting long enough.
If Ethereum corrects in the coming sessions, DonAlt intends to expand his holdings in the strong green support zone below the current range, estimated between $1,750 and $1,800.
Ethereum’s market performance relative to Bitcoin
Market watchers note that Ethereum’s current price structure remains steadier compared to Bitcoin (BTC). BTC has recently moved in a tight range near $63,000, following new U.S. consumer price index data. This period of low volatility in Bitcoin has provided Ethereum with an opportunity to outperform and aim for higher levels, including its previous all-time highs above $4,000.
| Asset | Current Price | Key Resistance | Support Zone | Previous ATH |
|---|---|---|---|---|
| Ethereum (ETH) | $1,878 | $2,000–$2,200 | $1,750–$1,800 | $4,000+ |
| Bitcoin (BTC) | $63,000 | N/A | N/A | $69,000 |
DonAlt also used this moment to criticize retail sentiment in crypto communities. He mocked the tendency of market participants to alternate between overconfidence during rallies and panic during minor corrections, rather than using downturns as opportunities to accumulate assets at lower prices.
Personal connection to Ethereum
Ethereum holds special importance for DonAlt. He began his trading career with a renowned long position in ETH, entering at $84 on BitMEX. Despite describing that trade as “pure luck” due to a mistake in leverage size, DonAlt’s recent acquisition appears to be a calculated bet by a high-profile trader looking to participate in the next significant trend.
DonAlt is a widely followed figure in the cryptocurrency space, whose analyses and market moves often draw significant attention from both retail and institutional investors.
Mini dictionary: BitMEX, a cryptocurrency derivatives exchange known for high-leverage trading, often attracts professional traders looking to take large positions in major coins such as Bitcoin and Ethereum.
