Pentoshi: “It’s Time” For Ethereum, Predicts A Rally For Chainlink
According to a prominent cryptocurrency analyst and trader, known as Pentoshi, two altcoins; Ethereum (ETH) and Chainlink (LINK) are due to a rally to all-time highs.
Ethereum (ETH)
The analyst shared with his 270K Twitter followers that the second largest crypto, Ethereum (ETH) is looking bullish on both USD and BTC pairs after breaking downwards resistance.
“$ETH / USD pair now
Just broke down trendline
But also [higher low] after [support/resistance] flip on a sneaky retest
There is absolutely nothing bearish about any of these charts on any pairs. But especially the $BTC pair”
[Higher High / Higher Low] intact on 1D and [higher time frame] Macro chart
Against trendlines now
Final move to .10-.125 [BTC] ($4,811-$6,013)
[Lower time frame’s] showing signs of getting ready to [bottom out in my opinion]”
Chainlink (LINK)
Regarding the decentralized oracle network Chainlink, the analyst is predicting a rally to $32 after forming a triple bottom on the charts.
“$LINK update
At [lower time frame] resistance. Looks like $32 next. Good volume coming in off triple bottom and a nice inefficiency to fill
Above that = $36-37”
Regarding Chainlink and Bitcoin pair, the analyst points out that the oracle token looks to have reached a bottom and is forming higher highs against BTC. He expects LINK to rally to the 0.0011952 BTC level.
“Lastly I love the similarities of what’s building here from its biggest past rally on $LINK
The weekly is screaming bottomed and forming a quick succession of [higher high + lower low] now the past months. Markets love symmetry so I believe the right side will match the left mostly in time”
Bitcoin (BTC)
BTC just recently formed a golden cross on the daily moving average indicators, historically noting a positive shift in momentum for the crypto markets, Pentoshi notes.
“Shhhhh it’s ok
BTC now with the golden cross as a [moving average] trader
And *squints*
A bullish engulfing candle that engulfs 6 days of bearish bottom sellers on dare I say… increased volume?”
