A widely followed analyst is suddenly issuing a warning that the crypto market may not be done correcting.
Pseudonymous crypto trader Kaleo tells his 675,300 followers on social media platform down.
“I still think there’s a chance we see a little bit lower across the board before we start tearing up again. Just enjoy the peace and quiet here while it lasts. When we start to progress again, it will be violent. Up only requires a lot more energy than any other phase in the market. Plan accordingly before he returns.
Other analysts are also weighing in on market conditions with similar bearish near-term forecasts.
Widely followed crypto analyst Justin Bennett told his 115,800 followers on social media platform
“That ETH chart I posted (December 21) showing $3,541 as weekly resistance was one of my crypto concerns heading into Christmas. Notice where Ethereum struggled this week. Yes, we had a rebound at Christmas, but it was low volume and mostly retail. It still seems to me that we could see a decline in crypto before hitting the bottom point in early 2025.”
Ethereum (ETH) is trading at $3,367 at the time of writing, down 2.8% in the last 24 hours.
The pseudonymous analyst known as Rekt Capital told his 115,800 followers on social media platform X that Bitcoin could return to lower levels as its Christmas rally appears to be short-lived.
“Looks like maybe this is the relief rally.” These previously lost supports appear to be acting as resistance at the moment.
Bitcoin is trading at $95,945 at the time of writing, down 2.9% in the last 24 hours.
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