Widely followed crypto analyst Benjamin Cowen reveals why the rise of a popular layer-1 smart contract platform against the top two cryptos could lead to more gains in the future. Benjamin Cowen says that the popular altcoin Avalanche (AVAX) has been climbing higher compared to Ethereum (ETH) for several months. On the other hand, Cowen says that the price range between $2,000 and $4,000 is a major reaccumulation zone for Ethereum, which is heading for higher prices. Details are on Kriptokoin.com.
Awaiting big move from popular altcoin Avalanche
Cowen AVAX “has a chance to rise against ETH. “If you go back to October 2021, it’s been rising steadily for a while, gradually rising,” he says. According to the analyst, if AVAX goes up against Ethereum and starts heading [towards 0.06 ETH], that will make it even more attractive. Cowen also points out that Ether outperforms Bitcoin. Referring to how AVAX is stacking up against Bitcoin (BTC), the analyst states that it has a systematic upward trend against BTC. Cowen adds that “where the real test comes in” is how Avalanche stacks up against Bitcoin and Ethereum. The analyst says:
AVAX’s Bitcoin valuation is almost in a systematic uptrend. And from the local bottom, you can see it’s up about 1800%. Again, this is against the US dollar, not Bitcoin! This is pretty impressive considering that Bitcoin has also been on the rise since late 2020.
Crypto analyst Benjamin Cowen says Ethereum (ETH) is poised for a big breakout after nearly a year of horizontal reaccumulation. Speaking for ETH, the analyst says:
There seems to be a good possibility for Ethereum to eventually break out of this long re-accumulation zone of $2,000 and $4,000. I think between $2,000 and $4,000 is a re-accumulation zone. If we get out of this and go higher then things can get a little crazy. If we go higher, there is no guarantee that we will go back to these prices. We could but we never visited these prices whenever we left here. If we bounce back to previous all-time highs and then Ethereum explodes and we start trending higher, maybe we hit $7,000-8,000 and then we need to go sideways for half a year…
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