Crypto Analyst Who Nailed 2018 Bitcoin Bottom Predicts Ethereum Pullback – Here’s His Downside Target
The crypto strategist who precisely predicted the underside for Bitcoin (BTC) through the 2018 bear market is issuing a warning to Ethereum (ETH) holders.
Pseudonymous crypto analyst Good Contracter tells his 210,300 Twitter followers that main good contract platform Ethereum seems to be en route for an exhaustion rally to round $2,000 earlier than dropping over 36% of its worth from the excessive.
“If ETH makes a brand new excessive right here on the weekend, it units up for a 5 wave transfer full on every day and a possible high within the new week when legacy markets open. ‘If’ it confirms with a brand new excessive, some good longer-term shopping for alternatives ought to current across the $1,270 mark within the coming month.”
At time of writing, Ethereum is swapping arms for $1,682, a 3.07% lower on the day.
Fellow crypto analyst Pentoshi agrees with Good Contracter’s outlook on ETH. Pentoshi tells his 592,300 Twitter followers that he believes Ethereum will probably right because it struggles to maintain its momentum round a significant resistance space.
“I like a very good doji on the weekly. What usually follows after it will get into resistance? You can also make an argument that weak spot is being proven at resistance. You wouldn’t imagine what comes subsequent.”
Whereas Good Contracter and Pentoshi are bearish on ETH, in style crypto strategist Altcoin Sherpa says Ethereum has a very good shot of holding its bullish momentum alive if it manages to breach resistance at $1,700.
“Maintain it easy. If Ethereum good points acceptance into this vary, then I feel we might see a transfer as much as the highs within the low $2,000. All the things continues to pump if this occurs as a result of ETH/USD leads the market, for my part.”
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