Cryptocurrency analyst and trader Jason Pizzino believes three top altcoins may be forming bullish reversals after the market’s correction.
In a new video, Pizzino tells his 348,000 YouTube subscribers that Ethereum (ETH) may soon regain $3,000 as support after bouncing off of a low of around $2,100.
“Overall, the smart money bought this thing up pretty damn hard. It’s hit all the targets now down to 150%, so that’s $2,100 to $2,200…
We are now looking for closes above $2,900. Another massive thing about this bar is that it had huge volume, and it closed back above all these previous tops at $2,700. That was the previous support area…
It’s got to get back above this swing low here at $2,950 and then ideally above that 50% level at around $3,100.”
He also says that ETH in its Bitcoin pair (ETH/BTC) on the weekly chart may be forming a double-bottom pattern, which is typically considered a bullish reversal pattern.
“ETH/BTC pairing, it needs to get back above these swing bottoms…
Potential double bottom here with the December 2020 low, that’s back at around 2.2%, so we could be in for some sort of double bottoming here.”
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Author: Daily Hodl Staff
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