After nailing the collapse of Bitcoin (BTC) in 2018, the veteran radar, which has become a legend in the cryptocurrency world, has warned Ethereum (ETH), the leading smart contract platform.
Peter Brant To tell His 645,700 Twitter followers show that Ethereum forms a downward triangle. This is a continuation pattern that suggests a further downside risk for ETH.
“I’m not ready to dive into a crazy NFT first [non-fungible token] The world, but ETH looks like a good outlook for measured risk short trades … ETH It is part of the c ** p cipher. Transaction costs are high and cumbersome. People promoting the new version are still waiting for the rebuilding of Hindenburg.“”
Looking at the trader’s charts, a bearish pattern could appear if Ethereum gets support for about $ 1,750.
Brandt is not the only popular analyst bearish on Ethereum. Cryptographic strategist Cantering Clark also has a sharp foot on his 134,600 Twitter followers, as ETH has been trading well below the diagonal support that has kept the market bullish since March 2021. He said he seemed ripe to take it down.
“If you don’t think this is a little different, look at this ETH chart and think,’Big ships turn slowly and are hard to stop.’ By measuring high time frames, this is the beginning of a real slowdown. There is a possibility.”
Meanwhile, fellow crypto strategist Credible is investigating ETH’s performance against Bitcoin (ETH / BTC). According to Credible, the ETH / BTC pair is ready to lose more than 41% of its current price of 0.060 BTC.
“ETH / BTC continues to bleed and is almost close to my goal, which I first outlined four months ago. That said, BTC has not yet started the fifth wave. ETH / BTC is expected to decline significantly as BTC leads the market from this revision to the main fifth wave. The following revised targets. “
Credible is a stubborn Bitcoin bull I believe BTC will surpass most altcoins in the early stages of the rally this year (5th wave), setting a new record high.
At the time of writing ETH I’m changing hands for $ 1,796 BTC Worth $ 29,819.
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