Crypto analyst DonAlt, known for profiting from the recent crypto rally at the beginning of the year, has reiterated his bullish view on Bitcoin (BTC). The analyst pointed to the price trading above $32,000 as a reason for his bullish expectation. DonAlt also identified the level that would accelerate the rise in Ethereum (ETH).
Bitcoin Bullish Expectations Reiterated
Anonymous crypto analyst DonAlt highlighted on his personal X (formerly known as Twitter) account that Bitcoin is currently trading in a wide range between $32,000 and $60,000. The analyst emphasized that Bitcoin’s price being well above the recent bottom at $32,000 indicates that the bulls are in control of the largest cryptocurrency. DonAlt stated:
It’s trading above the bottom range. It can’t get much better than this. As long as the price holds above $32,200, I don’t think there’s anything other than a massive rally ahead. If we lose the low range, then we can start talking about a decline.
The analyst previously indicated in a Bitcoin analysis that the largest cryptocurrency faces no significant resistance up to $60,000 in the higher time frame, signaling a continuation of the upward trend.
Ethereum Marks Critical Level at $2,096
DonAlt, looking at the second-largest smart contract platform and the largest altcoin Ethereum after Bitcoin, predicted that ETH would likely continue to underperform compared to BTC. The analyst shared a chart showing a continuous downtrend in the ETH/BTC trading pair.
DonAlt emphasized that if ETH/BTC manages to surpass a key price area, his expectation for a decline would change, stating, “If it breaks above 0.06 BTC ($2,096), I’ll change my bearish expectation.”
At the time of writing, ETH/BTC is trading at 0.0723 BTC ($2,526), experiencing a decline of about 25% since the beginning of the year when it traded at 0.0542 BTC ($1,894).
