Bitcoin Might Maintain Its Positive Momentum
A well-known trader is examining the short-term prospects for the two biggest crypto assets as well as one alternative currency that has recently posted significant gains. The trader is known as Altcoin Sherpa. He warns his 180,600 Twitter followers that Bitcoin (BTC), the leading cryptocurrency asset, might maintain its positive momentum if it is able to cross a significant barrier level.
Well, the bitcoin or the Bitcoin solidly surpass $24,000 and he anticipates that they will follow with high $20,000s.
The price of one bitcoin is currently $23,752.
The technical signs highlighted by Altcoin Sherpa further imply that an upward movement is about to occur. He is still wary, though, that BTC can potentially go back to its lows from the bear market. Since the end of March, the four-hour chart has shown one probable bullish major. First bullish crossover of the exponential moving average since March. Bearish on the daily chart at the high period.
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Ethereum Continuing to Outperform Other Currencies
I don’t think it’s a macro turnaround, and I doubt it gets over high $20,000. I continue to believe that $17,000s will finally be washed. According to Altcoin Sherpa, Ethereum (ETH), the second-largest cryptocurrency by market size, will probably continue to outperform other cryptocurrencies. In order to demonstrate that Solana is in a downward trend against the most popular smart contract platform, the crypto strategist offers the Solana vs Ethereum (SOL/ETH) chart.
Will ETH just continue to beat everything else, even BTC? Or will anything else surpass it? It’s interesting to see SOL and AVAX as the layer-1/ETH pairings of the moment. Personally, Sherpa believes that ETH just keeps doing better in the midterm, but that is just him. According to him, the Avalanche and Ethereum (AVAX/ETH) combination presents a similar situation.
Source: https://www.thecoinrepublic.com/2022/08/02/the-future-of-bitcoin-and-ethereum/