Popular crypto analyst Altcoin Sherpa believes that Ethereum (ETH) may be approaching a bottom in its Bitcoin pair (ETH/BTC). The analyst suggests that ETH/BTC will likely bottom out once Bitcoin completes its breakout rally.

“I know everyone’s talking about altseason now and nobody wants that more than me. However, I think that BTC has to be finished with its run momentarily for alts to run (aka Jan 2021).

ETH probably finds a bottom in the next few months vs. BTC. Here or 0.024 are the areas I’m watching.”

At the time of writing, ETH/BTC is trading at 0.034 BTC, equivalent to $3,314. If the pair corrects towards the analyst’s target bottom at 0.024 BTC, it would indicate a nearly 30% downside move.

Altcoin Sherpa also mentions XRP, the native token for the XRP Ledger (XRPL), which has seen a 180% increase in value this month. The analyst considers XRP as one to watch in the potential upcoming altcoin season.

“XRP is kind of close to its old 2021 high. Wild this thing made its way all the way up to ~$3 in 2017. This dollar probably flows to DOGE but regardless, still one to watch. Multi-year accumulation period.”

At the time of writing, XRP is trading at $1.38.

Altcoin Sherpa also reveals some of their highest conviction holdings, which include Bitcoin, Ethereum, Solana (SOL), and altcoins in the memecoin and artificial intelligence (AI) sectors.

“Current bags: majors BTC/ETH/SOL, spot DOGE, spot BONK. If I were fully in office, I’d get some utility coins in spot [market]. On-chain: HUGE AI bags like GOAT, ZEREBRO, and a bunch of others. Some other bets like KEYCAT, NPC, BONGO. Trying to concentrate more.”

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