On the latest episode of DataDash, Merten watches Ethereum and sees the cryptocurrency printing strong bullish signals against the royal coin.
“These longer term indicators are starting to show that we are preparing for a reversal. If you just look at the price here, it’s beautiful. This is exactly what we want to see. It’s a nice lateral consolidation, higher lows and again no other sales activity. Now all we’re looking for is higher heights than what we set here in December 2018. ”
As for XRP, Merten thinks cryptocurrency is likely to face more pain in the short term, but expects Ripple’s native token to trigger a parabolic increase against BTC once it finishes a bullish pattern.
« It’s been over a year now that we have been in this descending corner and I have no doubt that it will probably last a few more weeks, maybe a month, until we really have a break. After that, that’s when we can start to see the type of volatile boost going up and start to get an almost parabolic increase here for cryptocurrencies. “
Turning his attention to Litecoin, Merten says the coin also offers a big advantage against Bitcoin once it dives into its proven buying zone.
“When we get to that range, it’s either instantly high – buyers start to get close to that price range – or a matter of less than a week. After that, we launch which represents a gain of around 400% against Bitcoin. “
Merten says that the smaller altcoins have more room to grow against Bitcoin. He thinks that Kyber Network (KNC), Ren (REN), Aave (LEND), Basic Attention Token (BAT), Kava (KAVA) and iExe RLC (RLC) are ripe to ignite after a retracement or consolidation period short term .
The crypto strategist believes that the six coins are solid long-term choices that offer the ability to print outsized gains in their BTC pairs compared to large-cap cryptocurrencies.
Although he feels optimistic, Merten also notes the unpredictability of the crypto market as a whole and says that anything can happen in this volatile and risky space.
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