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{"id":1594,"date":"2021-07-29T08:17:14","date_gmt":"2021-07-29T08:17:14","guid":{"rendered":"https:\/\/www.cryptocurrencypanther.com\/2021\/07\/29\/crypto-analyst-says-ethereum-following-cardano-maps-potential-reversal-against-bitcoin\/"},"modified":"2021-07-29T08:17:14","modified_gmt":"2021-07-29T08:17:14","slug":"crypto-analyst-says-ethereum-following-cardano-maps-potential-reversal-against-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptocurrencypanther.com\/2021\/07\/29\/crypto-analyst-says-ethereum-following-cardano-maps-potential-reversal-against-bitcoin\/","title":{"rendered":"Crypto Analyst Says Ethereum Following Cardano, Maps Potential Reversal Against Bitcoin"},"content":{"rendered":"

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A top trader is mapping out Ethereum\u2019s path ahead, predicting that the asset will follow in Cardano\u2019s footsteps.<\/p>\n

\u00a0<\/p>\n

In a series of tweets, pseudonymous crypto trader Capo notes that Cardano (ADA) recently retraced against Bitcoin (BTC), indicating that a similar move could be in store for Ethereum (ETH), the second-largest asset by market cap.<\/p>\n

Source: Crypto Capo<\/a><\/figcaption><\/figure>\n
Cardano\u2019s retrace, in Capo\u2019s opinion, signals<\/a> that Ethereum will also fall sharply against Bitcoin heading into September before taking off.<\/p>\n
*\u201cCould be a quick dump + bounce afterwards.\u201d<\/em><\/p>\n*
*$\"\"$* Source: il Capo<\/a><\/figcaption><\/figure>\n
Capo\u2019s prediction suggests that the price of Ethereum could once again fall below $2,000 at the beginning of August, provided the price of BTC remains at around $40,000.<\/p>\n
Capo also suggests that if the flagship cryptocurrency solidly<\/a> flips $40,000\/$41,000 into support, it is destined to hit $100,000 or more.<\/p>\n
*\u201c$40,000-41,000 is major resistance for BTC.<\/em><\/p>\n*
*1) Wait for a clean break + retest of this level<\/em><\/p>\n*
*2) Wait for a correction in 3 waves<\/em><\/p>\n*
*When it consolidates above the range high, $100,000+ will be inevitable.\u201d<\/em><\/p>\n*
Bitcoin has jumped nearly 25% in the past seven days, up from a low of $31,783 to $39,706 at time of writing. On Wednesday, Bitcoin\u2019s price action circled $40,000, prompting a bullish tweet from Capo, who indicates that the top cryptocurrency is showing bullish signs.<\/p>\n
*\u201cFirst bullish confirmation. I will add leverage when it consolidates above the range high (last bullish confirmation).\u201d<\/em><\/p>\n*
*$\"\"$* Source: Crypto Capo<\/a><\/figcaption><\/figure>\n
*Don’t Miss a Beat \u2013* Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>
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*Follow us on* Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
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*Surf* The Daily Hodl Mix<\/a><\/span><\/em>
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Check Latest News Headlines<\/span><\/a><\/center>
<\/p>\n
<\/center><\/p>\n
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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*Featured Image: Shutterstock\/Tithi Luadthong<\/em><\/span><\/p>\n<\/p><\/div>\n*

Source: Crypto Capo<\/a><\/figcaption><\/figure>\n
Cardano\u2019s retrace, in Capo\u2019s opinion, signals<\/a> that Ethereum will also fall sharply against Bitcoin heading into September before taking off.<\/p>\n
*\u201cCould be a quick dump + bounce afterwards.\u201d<\/em><\/p>\n*
*$\"\"$* Source: il Capo<\/a><\/figcaption><\/figure>\n
Capo\u2019s prediction suggests that the price of Ethereum could once again fall below $2,000 at the beginning of August, provided the price of BTC remains at around $40,000.<\/p>\n
Capo also suggests that if the flagship cryptocurrency solidly<\/a> flips $40,000\/$41,000 into support, it is destined to hit $100,000 or more.<\/p>\n
*\u201c$40,000-41,000 is major resistance for BTC.<\/em><\/p>\n*
*1) Wait for a clean break + retest of this level<\/em><\/p>\n*
*2) Wait for a correction in 3 waves<\/em><\/p>\n*
*When it consolidates above the range high, $100,000+ will be inevitable.\u201d<\/em><\/p>\n*
Bitcoin has jumped nearly 25% in the past seven days, up from a low of $31,783 to $39,706 at time of writing. On Wednesday, Bitcoin\u2019s price action circled $40,000, prompting a bullish tweet from Capo, who indicates that the top cryptocurrency is showing bullish signs.<\/p>\n
*\u201cFirst bullish confirmation. I will add leverage when it consolidates above the range high (last bullish confirmation).\u201d<\/em><\/p>\n*
*$\"\"$* Source: Crypto Capo<\/a><\/figcaption><\/figure>\n
*Don’t Miss a Beat \u2013* Subscribe<\/a> to get crypto email alerts delivered directly to your inbox <\/span><\/em>
\n
*Follow us on* Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
*Surf* The Daily Hodl Mix<\/a><\/span><\/em>
\n\u00a0
\n<\/p>\n
Check Latest News Headlines<\/span><\/a><\/center>
<\/p>\n
<\/center><\/p>\n
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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*Featured Image: Shutterstock\/Tithi Luadthong<\/em><\/span><\/p>\n<\/p><\/div>\n*