Popular crypto trader DonAlt does not expect Ethereum (ETH) to pursue Bitcoin during the highly anticipated halving rally.
Estimating the price movement of Bitcoin in 2020 with enviable accuracy, the cryptocurrency trader DonAlt claims that it will be a good opportunity to short the Ethereum (ETH) of the BTC rally due to the halving effect.
Even if BTC goes and mega moons I heavily doubt ETH will take part in it.
If we get any kind of halving related crazy spike up or weakness this week, I'm gonna look for ETH shorts.
Feels much comfier now that it's at HTF resistance. pic.twitter.com/cOY5LE2cPo
— DonAlt (@CryptoDonAlt) May 4, 2020
The second-largest cryptocurrency by market value is currently in great resistance on the weekly chart, which strengthens the bearish situation.
ETH hit a major barricade
Ethereum started 2020 by rising 112 percent in seven weeks. Analysts predicted that ETH would be $ 440, while cryptocurrency rose to its highest level of $ 287 a year on February 14. Ethereum experienced its biggest decline so far amidst the huge crash on the market on March 12. Although ETH manages to get rid of the accident, the trader does not expect the leader altcoin to further his rally with BTC.
Bitcoin Domination Fluctuates
DonAlt also predicted that the BTC Domination Index (BDI) is in a clear uptrend. Ethereum’s market share had reached its highest level ever (31.17 percent) on June 19, 2017. This rate is only 9.39 percent at the time of writing.