Despite the current dark situation and the drop of the crypto market value, the second largest cryptocurrency Ethereum ETH is showing an optimistic signs and strength according to the latest reports.
According what has been just revealed, the popular crypto analyst is deeply digging down into the charts as all the markets are hardly trying to recover from a very loud start to the week.
Altcoin Sherpa, the pseudonymous analyst, said the largest smart contract platform Ethereum (ETH) has decreased and fallen to the January lows at the $2,100 range.
“Interesting observation for Ethereum is that it’s right at its January lows; something that BTC [Bitcoin] already broke past.” He continued and said the following: “BTC is closer to its May lows while ETH/USD is still decently above those levels. Decent strength…”
Altcoin Sherpa trader, is next looking at the cross-chain interoperability protocol Polkadot (DOT), setting a target of sub-$6 as an entry-level.
“$6 is coming if this level gets lost. Seems like a decent scalp long at a minimum”.
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The second largest cryptocurrency Ethereum ETH is trading at $2,075.13 today in green.