Ethereum (ETH) ‘Monster’ Rally Comes With Additional Altcoin Poised to Outperform, Says Top Crypto Analyst

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A popular crypto analyst known for calling Bitcoin (BTC) bottom in 2018 predicts a massive rally for Ethereum (ETH).

Pseudonymous analyst Smart Contracter tells his 221,400 Twitter followers that Ethereum appears to be at the end of a correction and ready to rise.

“ETH/BTC just pulled out of a six-month low, only 3% lower before my major buy zone.

Not the circumstances I expected it to happen (I thought ETH and BTC would fall, but ETH more so), but there’s no way I’m missing out on the monster rally of the upcoming ETH.

Source: Smart Contracter/Twitter

Looking at his chart, the analyst shows ETH/BTC in a downside correction and poised to exploit crucial Fibonacci retracement support at 0.618, which traders view as a likely point for a rebound.

Smart Contractor’s bullishness on ETH comes as crypto analytics platform Santiment claims that sharks have accumulated 3.61 million ETH coins over the past year, worth $6. $13 billion.

However, the whales discharged more than double that amount.

“Large Ethereum addresses have moved their owned supply significantly. Addresses holding 10-10,000 ETH have collectively added 3.61 million coins over the past year. Meanwhile, addresses with 10,000 to 10,000,000 ETH collectively dumped 9.43 million in the same time frame.

The crypto analyst also says that optimism (OP) also looks bullish.

“Bullish developed flat daily for OP against USD, BTC and ETH pairs. Looks like one of the alts that will work just fine in my opinion.

Source: Smart Contracter/Twitter

Using Elliott Wave Theory, an advanced technical analysis method that predicts future price action based on crowd psychology occurring in waves, Smart Contracter asserts that optimism is at the bottom of a correction and prepares the ground to move upwards.

Source: Smart Contracter/Twitter

Ethereum is worth $1,819 and Optimism is trading at $2.57 at the time of writing.

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