When Is the Best Time to Buy ETH/USD? Analyst Expounds As Polkadot (DOT) Races Past Bitcoin, Ethereum, EOS


ETH/USD Daily Chart

A renowned trader and crypto analyst believe the best time to buy ETH is December and January which is also corroborated by history. Historical indications noticed a Q4 Ethereum weakness in most instances to hit bottom lows in December and January, after which a massive rally took place.

Ethereum has been stuck in a bear trend since February 2018, trading beneath its $1,500 ATH. During this period, ETH price remained constricted within the $80 and $300 range. Later on this year, ETH breached past the $300 key level to trade at highs of $488 in August.

If the $300 level stays as support, he postulated the next levels of potential resistance at $600 and $775-$825 implying that Ethereum could surge more than 100% in the next bull run.

Polkadot is the best-performing blockchain in terms of developer activity according to a recent report from Outlier Ventures. It showed that in 2020, Polkadot experienced the biggest upsurge in developer activity, at +44%, racing past Bitcoin, Ethereum, EOS, and a host of others.

Courtesy: Outlier Ventures

Image Credit: Outlier Ventures, Shutterstock

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