According to a recent job On X by Crypto Analyst Ali Martinez, Ethereum (ETH) can head around $ 1,250 because he may decompose a parallel channel. However, other analysts suggest that a trend reversal could be on the horizon for the second largest cryptocurrency by market capitalization.
Does Ethereum go below?
Ethereum has been stuck in a persistent decrease trend in the last three months, losing more than 50% of its market value. The digital asset went from $ 4,061 on December 16 to a little more than $ 1,900 when writing the editorial’s time, marking a sharp decrease of 50%.
Digital asset analyst Martinez warns that there could be a new drop for ETH, especially after falling below $ 2,200 on the daily graph, broken down from a parallel channel. Martinez explained that this ventilation could push the price of ETH as low as $ 1,250.
Crypto analyst Daan Crypto Trades offered a more prudently optimistic perspective. The analyst stressed that the ETH consolidated itself after the recent sale on the cryptography market and formed a corner scheme falling on the time graph – a model often associated with a potential local trend reversal. They added::
But for it to happen, I would like to see the break and hold over the white area. If this can do, we can start looking for tests in the $ 2,000 +region.
Daan also underlined the declining ETH / Bitcoin trading pair (BTC). Although he has shown some strength in the past few days, the analyst noted that this was not enough to report a relief rally. Data De Coingecko reveals that the ETH fell by almost 60% against the BTC in the past year.
Experts offer hope for eth
Trader crypto merlijn the merchant attract The parallels between the action of the current prices of ETH and its behavior in 2019-2020, suggesting that ETH could be about to resume the bullish momentum. However, he stressed that the ETH was first to erase the resistance of the keys to $ 2,260.
Likewise, the Crypto Ted analyst highlighted the similarities between Ethereum and the action of BTC prices from 2019. In a post, he said::
What happens if $ 4,000 ETH is like $ 14,000 BTC in 2019? What if the Ethereum major rally has not even started? Looking at the 2019-21 fractal BTC, it makes me ask me if the previous gatherings of ETH were only the beginning.
However, TED also warned that ETH could first go to the range of $ 1,400 to $ 1,600 before the start of the significant trend reversal. His analysis aligns with a recent report Predict that ETH could set up rapid recovery at $ 3,000, driven by short potential pressure.
On a more positive note, ETH could approach a high recovery phase after entrance A crucial surolon area. At the time of the press, ETH is negotiated at $ 1,933, up 5.2% in the last 24 hours.
Star image of Unsplash.com, X charts and tradingView.com
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