A closely followed cryptocurrency analyst and trader is expressing bullish sentiment on a top-10 altcoin by market capitalization.
The analyst pseudonymously known as DonAlt tells 59,100 subscribers of the TechnicalRoundup YouTube channel that the price action of BNB, the native token of the BNB Chain, is currently signaling massive upside potential.
“I like BNB… I like the BNB chart. This is BNB/USD [chart], it’s basically begging to break out. I think a dip on this would just be a buy.”
BNB is trading at $561 at time of writing.
According to the pseudonymous analyst, the fourth-largest crypto asset by market cap would cease being attractive for a long opportunity if it drops by around 20% from the current level.
“Anything below $450 would start looking a little bit dicey. But just generally this just looks very strong.
And then if you go on the BNB/BTC pair, you see what absolute dominance looks like. That’s actually a really good looking chart. So if you actually want to have a coin that looks good… BNB is one of them. That chart looks excellent.”
Next up is Bitcoin (BTC). According to the closely followed analyst, the behavior of Bitcoin around two key levels will signal where the flagship crypto asset is likely to head to next.
“I think any close above $70,000 [on the monthly chart] is probably going to go towards $80,000, $90,000… any close below $57,000 is probably going to go towards like $45,000.”
Bitcoin is trading at $58,840 at time of writing.
On Ethereum (ETH), DonAlt says,
“If the weekly closes above $3,000 this week… then we can talk about maybe going back to $4,000. So like I’m more bullish in ETH than I have been in almost years at this point.”
Ethereum is trading at $2,988 at time of writing.
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