According to popular crypto analyst Nicholas Merten, investors are currently overlooking Ethereum, the leading smart contract platform (ETH).

The host of DataDash tells his 507,000 subscribers in a new strategy session that Ethereum's Bitcoin pair (ETH/BTC) is flashing signals that suggest it is nowhere near the start of a bear market.

"If we look at the overall trend here against Bitcoin – and again, this is probably one of the most important key signals that we are not in a bear market – this is not a time to panic."

Throughout this pullback, we've been setting in higher lows and generally consistent higher highs."

Merten goes on to say that, while the last few weeks of ETH may appear bleak, the second-largest crypto asset by market cap is recovering much faster than leader Bitcoin.

"Since we've seen a bit of a bump in the market for BTC, it's not just Bitcoin that's leading the way." Ethereum is regaining ground even faster. We've been chartering higher since the lows we saw at the end of January...

It appears to be a repeat of what we've seen in the past couple of corrections."

According to Merten, ETH could break out sometime in March, potentially flipping Bitcoin in a massive rally.

"We're going to see some kind of breakout, a squeezing, a coiling, if you will, of price against the resistance point where things can really start to leapfrog higher going into the rest of 2022."

And this is where I truly believe we have a chance to see the 'flippening.' A true reversal of Ethereum emerging as the market's top player, albeit for a limited time... Ethereum may be able to emerge and outperform Bitcoin." 

Merten's chart appears to indicate that he believes ETH could reach $10,000 by mid to late 2022.

At the time of press, Ethereum is trading at $2,686, up 14 percent from its seven-day low of $2,353.

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