Ethereum rival poised for all-time highs as ETH braces for massive breakthrough against Bitcoin: top crypto analyst

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Widely followed crypto analyst Pentoshi says an Ethereum rival is scrambling for new all-time highs as ETH appears poised to steal its Bitcoin pair as well.

The pseudonymous analyst tells his 375,000 Twitter followers that the Ethereum Polygon Scaling Solution (MATIC) chart hints at a significant price hike.

“I don’t know if this is good [fundamental analysis] come but look this way. The graphics seem revealing.

In my opinion, new all-time highs are coming soon. Higher lows and a build up of momentum.

The BTC pair also looks great.

Source: Pentoshi / Twitter

Based on Pentoshi’s chart, he believes MATIC has just rebounded from a critical accumulation range around $ 1.50, putting the coin in a position to break above $ 2.20 and uncover prices.

Polygon, which was originally designed to complement Ethereum and provide a cheaper and faster way to trade Ethereum-based tokens, has since become a full competitor. A recent report from the blockchain development platform Alchemy revealed that most new projects on Polygon exclusively use the network instead of using both Polygon and Ethereum.

Looking at Ethereum, the crypto analyst says that ETH currently appears to have a much more bullish market structure than Bitcoin. According to Pentoshi, ETH has just been kicked off the $ 4,600 level and is facing strong support levels at $ 3,900 and $ 3,600.

“The most important place on the graphics market structure here.”

Source: Pentoshi / Twitter

Pentoshi says he believes Ethereum will eventually overtake Bitcoin in the future. Looking at Ethereum vs. Bitcoin (ETH / BTC), the analyst says the pair is winding up for a breakout after taking 7 months to form a bullish flag pattern.

“ETH / BTC as stated previously:

No matter what, [ETH] looks set to outperform BTC as it progresses on the macro.

The 7 month breakout should confirm in 4 days.

Still bullish trend with bullish macro structure.

The key is to hold on [all-time high] on the USD pair.

Source: Pentoshi / TwitterCheck Price Action Don’t Miss a Beat – Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check is not not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling 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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