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28 October 2021
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Ethereum

Top Analyst Says ‘It’s Time’ for Ethereum, Predicts Huge Rally in Chainlink

A popular crypto trader and analyst thinks Ethereum (ETH) and Chainlink (LINK) are due for another run towards new all-time highs.

The crypto trader known as Pentoshi tells his 270,500 Twitter followers that the smart contract platform Ethereum (ETH) is looking bullish on both the USD and BTC pairing after breaking downwards resistance.

“$ETH / USD pair now

Just broke down trendline

But also [higher low] after [support/resistance] flip on a sneaky retest

There is absolutely nothing bearish about any of these charts on any pairs. But especially the $BTC pair”ADVERTISEMENT

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Source: Pentosh1 / Twitter

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Source: Pentosh1 / Twitter

“I think it’s time for $ETH / $BTC

Consolidating for 10 days

[Higher High / Higher Low] intact on 1D and [higher time frame] Macro chart

Against trendlines now

Final move to .10-.125 [BTC] ($4,811-$6,013)

[Lower time frame’s] showing signs of getting ready to [bottom out in my opinion]”

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Source: Pentosh1 / Twitter

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Source: Pentosh1 / Twitter

Looking at the decentralized oracle network Chainlink, Pentoshi is anticipating a run to $32 after forming a triple bottom on the charts.

“$LINK update

At [lower time frame] resistance. Looks like $32 next. Good volume coming in off triple bottom and a nice inefficiency to fill

Above that = $36-37”

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Source: Pentosh1 / Twitter

Stacked up against Bitcoin, he notes that the oracle token looks to have reached a bottom and is forming higher highs against the top crypto asset. He’s anticipating LINK to make a run to the 0.0011952 ($57.60) BTC level.

“Lastly I love the similarities of what’s building here from its biggest past rally on $LINK

The weekly is screaming bottomed and forming a quick succession of [higher high + lower low] now the past months. Markets love symmetry so I believe the right side will match the left mostly in time”

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Source: Pentosh1 / Twitter

As for Bitcoin itself, Pentoshi highlights that BTC is printing higher volume and recently just had a golden cross on the daily moving average indicators, historically noting a positive shift in momentum for the crypto markets.

“Shhhhh it’s ok

BTC now with the golden cross as a [moving average] trader

And *squints*

A bullish engulfing candle that engulfs 6 days of bearish bottom sellers on dare I say… increased volume?”

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Source: Pentosh1 / Twitter

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