ETH/BTC Pair Is \'Still Holding Up Pretty Strong,\' Crypto Analyst Altcoin Sherpa Tells Followers

In a new strategy session, pseudonymous crypto analyst Altcoin Sherpa tells his 217,800 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “still holding up pretty strong.”

A widely followed crypto trader is expressing bullish sentiment on Ethereum (ETH) relative to Bitcoin (BTC). In a new strategy session, pseudonymous crypto analyst Altcoin Sherpa tells his 217,800 followers on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is “still holding up pretty strong.”

According to Sherpa, the ETH/BTC pair is currently in a “fine spot” for long opportunities amid the potential approval of spot Ethereum exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC).

“ETH to all-time highs is near guaranteed before the end of the year.”

Ethereum, which is trading at 0.05457 BTC ($3,142) at the time of writing, would need to rally by around 187% to reach the all-time high of 0.15636 BTC recorded in November of 2021.

Moving on to the crypto king, Sherpa says,

“Price still in an overall high time-frame range between $73,000 – $56,000 but things of course look bearish in the short term.”

Sherpa concludes his analyst by saying that a bullish phase could kick off around three months from now for altcoins.

“Altcoins are continuing to sell off, I still don’t see any end in sight for that. I never understood why people thought we’d get some sort of alt season in the summer.

I could maybe see it for ETH ETF bidding but you generally need a healthy BTC for this to happen. Still possible I guess but I’m still a bit pessimistic. I think it’s likely we continue to chop and chill for the next few months and then have a very nice Q4.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix

Generated Image: Midjourney

The above is the detailed content of ETH/BTC Pair Is \'Still Holding Up Pretty Strong,\' Crypto Analyst Altcoin Sherpa Tells Followers. For more information, please follow other related articles on the PHP Chinese website!