Cardano (ADA), Binance Coin (BNB) and Two More Altcoins Signal Crypto Not in Bear Market: Analyst Nicholas Merten

Crypto analyst Nicholas Milton said that the performance of Cardano (ADA), Binancecoin (BNB) and the other two Altcoins is evidence that the digital asset market is not yet in a bearish zone. more.

In a new strategy session, Merten said that one of the key winter features of Cryptobear is when the altcoin starts bleeding against Ethereum (ETH).

It has shown good investor appetite for the altcoin in the past month or so, despite a more than 30% rebound in the Ethereum (ADA/ETH) Cardano pair and uncertain price behavior. I refer to it.

“We can see that about a month ago in December, ADA/ETH had a movement of about 33% here… where we generally see about 30% movement against Ethereum. This is interesting… Overall, I think ADA is bleeding more than Ethereum. .

We are not here to chase the crowd. The crowd was very optimistic at ADA, who got back here a few months ago. Now we get a discount and it’s starting to tend to go up. This is what I am interested in.

Martin says Binance Coin is telling the same story on the Ethereum (BNB/ETH) pair.

“when you come back [resistance at 0.16 ETH or $521] We’ve been able to see really higher motions. Not surprisingly, there was no significant bleeding against Ethereum. “

Although analysts have already made significant profits over the past year, smart contract platform Avalanche (AVAX) remains bullish on Ethereum (AVAX/ETH), which is a good sign for the entire crypto market. She says it looks like.

“To be fair, the chart doesn’t look bad. We mean we have a higher low here, which is a consistent historical resistance range. If it pops out of that range [0.03 ETH or $97]If the weekly close is strong, I believe AVAX can continue to fight Ethereum. “

According to Martin, Ethereum competitor Solana (SOL) is also in a good fight with ETH. He says SOL/ETH appears to be resilient. This may indicate that Solana has a chance to ignite another leg in that bullish cycle.

“Momentum is rolling in there. It has been stagnant since I came back here against ETH in September. However, I haven’t seen a big selloff. Not a bit. That’s just what it looks like. The question is, was it below the lows at 0.038 ETH (123 $), or did it go up at 0.06 ETH ($195) and start going higher? Even if you were Solana’s owner. Don’t panic now… it’s still good.”

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