ETH Trader Sees $4,000 Target as BTC Breaks Above $65,000
A prominent trader believes Ethereum (CRYPTO: ETH) is a better bet than Bitcoin (BTC) right now, and is buying into the cryptocurrency around $1,900. DonAlt, a well-known analyst, made his comments on an episode of the 'Casual Friday' podcast on August 15.
He had initially hoped to accumulate ETH at around $1,700 but decided to start positioning after that entry failed to materialize. The trader is buying gradually and remains prepared to add more if the price moves lower.
The key invalidation point for DonAlt sits much lower, at a monthly close below $1,500, which would significantly weaken the setup and could put $1,000 for ETH back in play.
On the upside, he is targeting roughly $3,800 to $4,000 if Ethereum can decisively clear resistance around $2,000. DonAlt views the $2,000 area as the most important immediate hurdle and expects ETH to quickly move through several intermediate resistance levels if it breaks.
The trader was more cautious on Bitcoin, describing its weekly chart as weaker than ETH's. He identified roughly $65,000 as the critical upside area for BTC and would be willing to add exposure if momentum confirms above that zone.