Popular crypto trader and analyst DonAlt takes to YouTube to make bullish predictions about Ethereum (ETH) and other altcoins. 
The crypto trader also made a notable revelation about Dogecoin, as he disclosed what he believes drove Elon Musk into the market.

A popular pseudonymous cryptocurrency trader has recently revealed his bullish position in the crypto market. With a focus on altcoins, the analyst DonAlt told his YouTube subscribers that Ethereum has the capacity to soar by 36% from its current price levels.

According to the analyst, Ethereum (ETH) is poised to skyrocket in the near term. He states that the market recorded a breakout attempt when Ethereum (ETH) was trading around the $1,900 price level. In the long-term, the Malays are predicting that Ethereum (ETH) can move its way up to the $2,500 price level. However, there is a catch.

The analyst expands on the possible hindrances that might spring up saying ;

I think we could see a nice bump on ETH…
We had a breakout attempt [at around $1,900]that got immediately shut down, but we did not have any follow-through. And if you don’t get any follow-through on something like this, there’s a chance that you creep back up. And the moment we do, the moment we close back above $1,900, I think this goes and then we can easily squeeze to $2,500.

Is Elon Musk in the Dogecoin market for the pump and dump? Analyst DonAlt shares his views

Like Ethereum, the Ripple (XRP) altcoin has also been recording well, remarked the analyst, who explains that ETH has the same type of setup as Litecoin (LTC), however, ETH is a bit more solid than LTC. The positive run can be tied to positive speculations about Ripple (XRP) as it continues its run with the SEC. DonALT said.

XRP has been excellent as well. Same kind of setup [as Litecoin], just a little bit stronger than Litecoin.
This is based on people speculating on the SEC case going well for XRP. Also walking up in a staircase pattern and this looks like it wants to kind of just go!

As for the Doge memecoin, the analyst believes that it has been damaged. He revealed that he traded the memecoin as it when Elon Musk, a known Dogecoin proponent, changed Twitter’s logo to the asset.the analyst remarked:

I think Doge has been sullied…I traded it a little bit when Elon [Musk] changed the Twitter logo (to a Doge)…

He reveals that he benefited from the upside wave from around $0.076 to over $0.10, particularly because he made his way into the market early on. Although he expected Elon Musk to do more with the asset, he now believes that the Billionaire was only in the market for the pump and dump.

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Filed under: Bitcoin - @ June 10, 2023 4:09 pm