NEW!Incredible offer for our exclusive subscribers! Read More
ETH

Four Crypto Assets Could Follow Ethereum’s Explosive Rally, Says Trader Nicholas Merten

1 Mins read

Popular crypto trader and analyst Nicholas Merten is listing a handful of altcoins that could skyrocket on the heels of Ethereum’s astounding rally to over $4,000.

cryptonews.net

In a new video, Merten first names Uniswap (UNI) as an asset that could benefit from Ethereum’s rapid ascent.

The trader tells his 449,000 YouTube subscribers that he has a large position in UNI, which is trading at $38.89 at time of writing, down about 9% in the past two weeks, according to CoinGecko.

“The reason why I think UNI is in a good spot right now is because it’s about half of where it was against Ethereum back here in March… It started to lose out against Ethereum as Ethereum started to build into its super cycle.”

Merten’s next pick is the enterprise blockchain project Unibright (UBT). The analyst notes UBT has held its line of resistance against Bitcoin multiple times and is “starting to look like it might tick up” in the near future. Merten adds that Unibright has moved against Ethereum fairly well, maintaining a solid support level in the UBT/ETH pair.

Unibright is trading at $1.50 at time of writing and is down more than 30% in the past seven days, according to CoinGecko.

Next up on the analyst’s list is decentralized exchange aggregator 1inch (1INCH). Merten says he doesn’t currently have a position in 1inch, but is “definitely looking to build one” if it can hold onto its current range against Bitcoin. 1inch is trading at $5.90 at time of writing, according to CoinGecko.

And Merten’s final crypto pick is Litecoin (LTC), which he notes has seen more than 46% gains against Bitcoin in just the first 10 days of May alone. The trader believes Litecoin is still in the “early innings” of its climb, and that he currently holds the asset.

“This is going to be one of those plays – it’s not in the Ethereum ecosystem, but it’s going to be one you’re going to want to watch for that liquidity to cycle out [and] for Litecoin to gain some ground against not only Bitcoin but Ethereum.”

LTC is trading at $331.26 at time of writing and is up 27.7% in the past two weeks, according to CoinGecko.

Related posts
AltcoinsBTCCryptoETHOther

ilonbit.net protects your money — Scheduled

2 Mins read
ilonbit.com Exchange, as bitcoin becomes more popular, more exchanges are springing up to buy, trade, and sell various cryptocurrencies. As a result, choose…
AltcoinsBTCCryptoETHOtherTrading

Exzus.com | Review of the exchange in 2022 | 

2 Mins read
exzus.com Exchange, as bitcoin becomes more popular, more exchanges are springing up to buy, trade, and sell various cryptocurrencies. As a result, choose…
AltcoinsBTCCryptoETH

Exzus innovative security system is a combination of the system of protection of funds and verification of users.

1 Mins read
Imagine that you did not set a strong enough password and did not enable 2FA. What can happen in this case? That’s…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *