A closely tracked analyst is warning crypto traders that the rallies of Ethereum ( ETH ), Binance Coin ( BNB ) and two other altcoins could soon hit a pit stop.
Pseudonymous analyst Altcoin Sherpa tells his 181,300 Twitter followers that the market structures of Ethereum, Binance Coin, Near Protocol ( NEAR ) and Cosmos ( ATOM ) look similar, and all appear to be setting up for a corrective move.

“Many of these altcoin charts have a very similar structure: some sort of rounded bottom from the lows. I think that upside is fairly limited from here, and it’s really all going to depend on Ethereum because it leads. Watch for a cup and handle or a double bottom coming.”
Source: Altcoin Sherpa/Twitter
Based on the analyst’s chart, it appears that Altcoin Sherpa is suggesting that Ethereum will likely struggle around $2,160. At time of writing, Ethereum is changing hands for $1,981, flat on the day.
Looking at Binance Coin, the utility token of crypto exchange Binance, the crypto strategist implies that BNB may struggle at current levels as the 200-day exponential moving average (EMA) acts as resistance.
Source: Altcoin Sherpa/Twitter
At time of writing, BNB is swapping hands for $324.33, still hovering below the 200-day EMA.
As for Ethereum rival Near Protocol, Altcoin Sherpa believes that the smart contract platform will likely find resistance at $6.09.
Source: Altcoin Sherpa/Twitter
At time of writing, NEAR is valued at $5.77, down nearly 2% on the day.
The last coin on the trader’s radar is Cosmos, a project that aims to build an ecosystem of blockchains designed to scale and communicate with each other. According to Altcoin Sherpa, ATOM is set to face resistance at $12.50.
Source: Altcoin Sherpa/Twitter
At time of writing, ATOM is trading at $11.77, down 1.92% in the last 24 hours.
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The post Ethereum, Binance Coin and Two Additional Altcoins Have Limited Upside, Warns Top Crypto Trader appeared first on The Daily Hodl .