A widely followed crypto trader is predicting bullish scenarios for Binance Coin (BNB) and Ethereum (ETH) while saying that the utility token of FTX exchange (FTT) is about to bottom.
Starting with Binance Coin, the crypto analyst pseudonymously known as Smart Contracter says that the native token of the Binance Smart Chain is a few percentage points away from hitting an all-time high on the Bitcoin (BTC) chart.
Binance Coin is also headed for a new record high on the US dollar chart, according to Smart Contracter.
“BNB/BTC only 4% off all-time highs, BNB/USD pair not far behind it.
[A matter of] when, not if.”
In the case of Ethereum, Smart Contracter says that the second-largest cryptocurrency by market cap has broken out when paired against Bitcoin (ETH/BTC).
According to the crypto analyst and trader, the breakout on the ETH/BTC chart is also a bullish signal for the Ethereum/US dollar pair (ETH/USD).
“By the time ETH/USD pair hits all-time high, you are all going to look back and think ‘damn, maybe that ETH/BTC breakout really was a sign’.”
In the case of the utility token of the FTX cryptocurrency exchange, the crypto analyst says that FTT could resume an upwards direction after hitting a bottom forming around a strong support level.
“Friendly reminder major FTT bottom potentially underway has already been basing for 5 days. I don’t think we’re going to get much longer down here before it starts to get going again.”
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The post Top Crypto Analyst Plots Path Forward for Binance Coin and Ethereum, Says One Altcoin Has Bottomed appeared first on The Daily Hodl.