A top analyst who accurately called the end of the 2022 crypto bull market thinks Ethereum (ETH) is poised to rally in both its Bitcoin (ETH/BTC) and US dollar pairs.

Pseudonymous analyst Pentoshi tells his 826,200 followers on the social media platform X that ETH/BTC looks good after respecting its support at 0.30 BTC.

According to the crypto strategist, ETH/BTC may bounce to as high as 0.4597 BTC.

“Very promising start.

Let’s see if we can get to the target.” 

At time of writing, ETH/BTC is trading for 0.0373 BTC worth $3,563.

As for Ethereum against the dollar, Pentoshi thinks it is within the realm of possibility for ETH to surge above $4,000.

“No reason this doesn’t challenge this year’s highs, or higher in my opinion.

Which likely has confluence with the ETH/BTC target posted.”

He also thinks that the rally will be driven by investors allocating hundreds of millions of dollars in capital to ETH-based exchange-traded funds (ETFs).

“Starting to become more consistent for ETH. 

We could see a few $250-$500 million days at some point too in the near future for this [BlackRock ETH] ETF. Had a $91 million day just in the last week.

Probability of that you have to assume is very high and not far stretched at all.” 

Pentoshi is also keeping a close watch on the native asset of the graphics processing unit (GPU) rendering network Render (RENDER). The analyst says RENDER looks bullish after flipping a key resistance level at $8.10 as support.

“Was a very short wait, RENDER flipped it, retested, and confirmed on the four-hour [chart].

Structurally a great looking chart.” 

At time of writing, RENDER is worth $8.61, up over 8% in the past day.

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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 losses 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.

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A closely followed crypto analyst says that one Solana (SOL) rival is exhibiting market strength despite Bitcoin’s (BTC) pullback to the lower $90,000 range.

Pseudonymous analyst Pentoshi tells his 822,400 followers on the social media platform X that the native token of the layer-1 blockchain Sei (SEI) is primed for another leg up.

“SEI is another one that not only looks great with a high timeframe flip and clear invalidation, but also holding up very well like many alts on this BTC pullback. Here is the daily and weekly. Just to compare to a similar setup shared [on November 23rd]. When BTC chills out, alts should continue up.”

SEI is trading for $0.69 at the of writing, up 12.9% in the last 24 hours.

The analyst is also bullish on the modular blockchain network Celestia (TIA) after the native token took out its resistance at around $7.00.

“Really strong, and we should see it continue higher.”

TIA is trading at $8.22 at time, up 3.9% in the last 24 hours.

The analyst believes that many altcoins may start outperforming Bitcoin. He shares a chart of the Bitcoin Dominance (BTC.D), which has suddenly dropped out of the 60% range. The BTC.D index tracks how much of the total crypto market cap belongs to Bitcoin. A bearish BTC.D chart suggests that altcoins are about to outshine Bitcoin.

“Looks a lot more convincing 1732712443 and our large/mid caps have made some decent moves in terms of both USD and BTC pairs.”

The BTC.D is hovering at 58.61% at time of writing.

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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 losses 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.

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A closely followed trader in the crypto space says there may be opportunities for select altcoins once Bitcoin (BTC) stabilizes.

Pseudonymous analyst The Flow Horse tells his Telegram subscribers that the more liquid altcoins within the top 100 could present good entry points for bulls after their 50% dips.

The trader names cat-themed memecoin POPCAT as an example.

“Gentle reminder that alts probably can go a bit lower if Bitcoin does but after this type of mark up the 50% retracement level on liquid top 100 pairs is often a very good level to bid.

I would start creating filters and alerts for charts that are approaching their 50% retracement levels, Popcat is a good example.”

The Flow Horse also says that Celestia (TIA) and SEI are “good examples” of coins that are showing strength despite Bitcoin currently correcting and dragging much of the digital assets markets down with it.

The trader says it’s more than likely that BTC will consolidate under the $100,000 level, with some money flowing out of the risk curve into altcoins.

“Regardless of the near-term outcome, I think you can take one thing from BTC, no need to force anything here, BTC imo is more than likely going to take a little breather anyway before any real move above 100k.

Ideally, the market comes into agreement that we don’t have to worry about much lower prices, or that it doesn’t make sense to yet, and we can see some of the capital that does come out of Bitcoin go into alts.”

At time of writing, Bitcoin is trading at $94,201.

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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 losses 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/Mia Stendal/Vladimir Sazonov