A closely followed strategist thinks Ethereum (ETH) is gearing up for an impressive rally that will outshine the rest of the crypto markets.

Justin Bennett tells his 90,400 Twitter followers that ETH’s setup on the Bitcoin (BTC) trading chart could see the number-two crypto jump toward the 0.105 and 0.160 BTC levels, equal to about $6,000 and $9,100 at time of writing.

“ETH/BTC looks ready.

I’m thinking ETH outpaces pretty much everything over the next few weeks.”

Image
Source: Justin Bennett/Twitter

When considering broader crypto trends, the analyst suggests that in addition to BTC, ETH could also offer investors clues about where the markets are headed.

“Everyone is looking to BTC for clues about this cycle. But what if ETH becomes the leading indicator?

At a half a trillion dollar market cap and 19% market dominance, Ethereum is no slouch. Time to pay equal attention to both, [in my opinion].”

Bennett next dives into Ethereum’s price levels. He cites $4,000 as critical support and sees a breach of $4,600 as a chance to break out much higher.

“ETH potential higher low above $4,000. Looks bullish to me.

$4,400 is resistance. Above $4,600 and we moon.”

Image
Source: Justin Bennett/Twitter

At time of writing, ETH is valued at $4,245, down 2.45% on the day.

Moving on to the top crypto, Justin Bennett says that Bitcoin must hold $55,000 and break past $60,000 if it hopes for a relief rally after recently tumbling from a new all-time high above $68,500.

“BTC looks pretty good here for a relief rally back to the $63,000 region.

Needs to hold the line at $55,000 and get through $60,000.”

Image
Source: Justin Bennett/Twitter

In a follow-up tweet, Bennett remains optimistic as long as BTC can fight past a red candle on the chart.

“BTC, so far, so good.

Break this 4-hour trend line and we’re in business.”

Image
Source: Justin Bennett/Twitter

Bitcoin is changing hands for $57,097 at time of writing.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

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.

Featured Image: Shutterstock/Ellerslie

The post Ethereum Poised To Dramatically Outperform Bitcoin and Other Altcoins, Predicts Analyst Justin Bennett appeared first on The Daily Hodl.