Trader DonAlt buys Ethereum at resistance, plans to accumulate more if price falls
🚨 Trader DonAlt buys $ETH at local resistance and plans to purchase more on dips. 📉 He aims to add to his Ethereum position if the price falls to around $1,750–$1,800. 💡 Unlike Bitcoin, Ethereum holds a stronger structure, according to market observers. 🗓️ DonAlt started his crypto journey with a legendary ETH long from $84 on BitMEX.
Prominent cryptocurrency trader DonAlt, known for accurately forecasting XRP’s 700% surge in 2024, has revealed that he is starting to acquireEthereum(ETH) despite traditionally unfavorable timing. Strategic buying at resistanceDonAlt disclosed that he purchased ETH directly at a local resistance level on the weekly chart, acknowledging the unconventional nature of his move. Ethereum is now trading near $1,878, with the key resistance zone lying between $2,000 and $2,200. Typically, traders avoid entering long positions at such levels due to an elevated risk of market correction. In his recent explanation, DonAlt stated that waiting too long for an ideal entry had become psychologically taxing. He felt more comfortable holding some ETH at an imperfect price than remaining out of the market. He plans to increase his position if the price revisits the main support area. Bought some and will buy some more in the coming days. Feels a bit unreasonable to buy resistance but I feel less comfy not having it than having some at not the optimal price. Will buy more if we retest green but have been waiting long enough. If Ethereum corrects in the coming sessions, DonAlt intends to expand his holdings in the strong green support zone below the current range, estimated between $1,750 and $1,800. Ethereum’s market performance relative to BitcoinMarket watchers note that Ethereum’s current price structure remains steadier compared toBitcoin(BTC). BTC has recently moved in a tight range near $63,000, following new U. S. consumer price index data. This period of low volatility in Bitcoin has provided Ethereum with an opportunity to outperform and aim for higher levels, including its previous all-time highs above $4,000. AssetCurrent PriceKey ResistanceSupport ZonePrevious ATHEthereum (ETH)$1,878$2,000–$2,200$1,750–$1,800$4,000+Bitcoin (BTC)$63,000N/AN/A$69,000DonAlt also used this moment to criticize retail sentiment in crypto communities. He mocked the tendency of market participants to alternate between overconfidence during rallies and panic during minor corrections, rather than using downturns as opportunities to accumulate assets at lower prices. Personal connection to EthereumEthereum holds special importance for DonAlt. He began his trading career with a renowned long position in ETH, entering at $84 on BitMEX. Despite describing that trade as “pure luck” due to a mistake in leverage size, DonAlt’s recent acquisition appears to be a calculated bet by a high-profile trader looking to participate in the next significant trend. DonAlt is a widely followed figure in the cryptocurrency space, whose analyses and market moves often draw significant attention from both retail and institutional investors. Mini dictionary: BitMEX, a cryptocurrency derivatives exchange known for high-leverage trading, often attracts professional traders looking to take large positions in major coins such as Bitcoin and Ethereum. Disclaimer:The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.