A popular analyst on TradingView Trade_lab presented a trading strategy for the second largest cryptocurrency

On November 1, a meeting of the US Federal Reserve System (FRS) took place, and this event became very important for risky assets, as it determined further actions regarding monetary policy (MP). A decision was made on a rate of 5.5% and very clear hints were made that a further increase was unlikely.

Bitcoin reached another annual high after the Fed meeting

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Against this background, most risky assets (including crypto assets) reacted with growth. It is worth noting that smaller capitalization assets showed significantly greater growth relative to Bitcoin (BTC).

In light of this situation, you should take a closer look at buying the second most popular cryptocurrency. Buying Ethereum (ETH) is attractive for two reasons. First of all, this is capitalization ($215 billion for ETH versus $671 billion for BTC). The small base effect can serve as a good driver for asset growth.
The chart of the asset, which has been in the range of $1-2 thousand for about 2 years, also looks attractive. Leaving this range will allow the “ether” to increase by about 70% of its value in a fairly short period of time. A similar situation was already observed in 2019.