Cardano, Ethereum, Solana: Digital Assets Might Not Be In A Bear Market | CryptoGazette
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It’s been revealed that there are some important digital assets that are not in a bear market these days. Check out the latest reports and predictions about Cardano, Ethereum, Solana.
ADA, ETH, SOL, and BNB price analysis
Nicholas Merten says that the performance of Cardano (ADA), Ethereum (ETH), and Solana (SOL).
In a new strategy session, Merten says that one of the main hallmarks of a crypto bear winter is when altcoins start bleeding against Ethereum (ETH).
He addressed the fact that over the past month or so, Cardano in its Ethereum pair (ADA/ETH) has rallied over 30%, signaling healthy investor appetite for altcoins even.
He also made sure to highlight the fact that the price action looks uncertain.
“We can see that since back in December, about a month ago, ADA/ETH has made about a 33% move here… You can see here, generally speaking about a 30% move up against Ethereum. So that’s kind of interesting… You’d generally think that ADA would be bleeding heavier than Ethereum.”
He continued and said this:
“We’re not here to follow the crowd. The crowd was extremely bullish on ADA back here a couple of months ago. Now we’ve got a discount, and it’s starting to trend higher. That’s something that interests me.”
Merten says Binance Coin is telling the same story in its Ethereum pair (BNB/ETH).
“If we get back above [resistance at 0.16 ETH or $521] we could really start to see a move higher. We’re not seeing any major bleeding against Ethereum, as we should see.”
At the moment of writing this article, ETH is trading in the red and the coin is priced at $3,190.
He also explained that Ethereum competitor Solana (SOL) is also putting up a good fight against ETH.
He says that SOL/ETH looks resilient.
“Momentum has rolled over there. It’s been stagnant since back here in September against ETH.”
Stay tuned for more news and make sure to keep your eyes on the crypto market.
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