HomeEthereumLeading Crypto Analyst Signals 'Moment Of Truth' For Ethereum (ETH), Highlights Bitcoin's...

Leading Crypto Analyst Signals ‘Moment Of Truth’ For Ethereum (ETH), Highlights Bitcoin’s (BTC) Next Big Move


A widely followed crypto analyst says that Ethereum (ETH) faces a “moment of truth” as it charts the potentials for Bitcoin’s (BTC) next big move.

Cryptocurrency trader Justin Bennett says his 112,500 Twitter followers that the ETH price to keep an eye on is $1,835.

“Moment of truth for ETH here at $1,835.

Sustained break above and we could see $1,890 below week.

Resistance for now.”

Source: Justin Bennett/Twitter

ETH is worth $1,831 at the time of writing, just below the highlighted Bennett level.

Moving on to Bitcoin crypto king, Bennett says Today’s close will be important for the largest crypto by market cap.

“BTC bulls are trying to recapture that $26,500-$26,700 area today.

The daily closure will be key!”

Source: Justin Bennett/Twitter

Digging deeper in his Daily Price Action newsletter, Bennett further explores why today’s close is so key.

“Bitcoin closed below $26,500 on Wednesday for the first time since mid-March.

The level had served as key support for months before the collapse on Wednesday.

However, the jury is out on whether that breakdown holds.

Bitcoin is testing the $26,500 level as new resistance today, and the bulls are doing their best to close the session above that mark.”

Bennett believes that if BTC can recapture the $26,500-$26,700 levels, they will return to support. Otherwise, BTC is heading for $25,000, according to the analyst.

“Where Bitcoin goes from there (if tested) depends on how the market reacts to channel support and the $25,200 horizontal level.

With that being said, do not rule out a rally this week, especially given how indecisive the markets have been this month.

A daily close above $26,500 and $26,700 would confirm the fakeout and expose $27,600 and likely the sell-off pool at $27,800.”

Source: Justin Bennett/Daily Price Action

BTC is worth $26,744 at the time of writing, up 2% in the last 24 hours.

Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox

Check Price Action

follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

Check the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Featured image: Shutterstock/delcarmat


Please enter your comment!
Please enter your name here


Heath Tarbert joins Circle as General Counsel and Director of Corporate Affairs

In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new Chief Legal Officer and Head of...

Here is the bullish case for Ethereum Rival Solana (SOL), according to InvestAnswers

A widely followed analyst is giving a bullish outlook on the blockchain development of Ethereum (ETH) competitor Solana (SOL). In a new interview with Paul Barron,...

Rich Dad Poor Dad Author Says Biggest Real Estate Crash in History Is Coming, Calls BTC and Precious Metals the Answer

Rich Dad Poor Dad author Robert Kiyosaki once again predicts that the real estate sector will collapse and cause a severe global financial crisis. Former best-selling...

Binance Pay and Credencial Payments join forces to enable real-time crypto payments in Latin America

In a strategic alliance that aims to revolutionize the digital payments landscape, Binance Pay, the digital payments platform of the world's largest cryptocurrency exchange, Binance,...

Most Popular