Top Crypto Analyst Issues Ethereum Warning, Says ETH Price Action Could Get Ugly

A crypto strategist who nailed the top of the Bitcoin bull market in 2021 is warning Ethereum holders, saying that ETH might witness vital draw back threat.

Pseudonymous analyst Pentoshi tells his 677,100 Twitter followers that bearish momentum might go to the subsequent stage for Ethereum if it trades under a key help stage.

“Beneath the grey space COULD get ugly. I’ll discuss an extended down there with a decent cease. It’s a pleasant spot for some brief to mid time period invalidation for longs. If we begin to shut, under it’s a straightforward out and a paper reduce.” 

Supply: Pentoshi/Twitter

Pentoshi’s chart, he seems to be referring to help round $1,480. At time of writing, Ethereum is price $1,576.

Fellow analyst Sensible Contracter can also be bearish on Ethereum. In keeping with the crypto dealer, Ethereum has taken out the diagonal help of a bearish continuation sample.

“Bear flag construction breaking down on ETH.” 

Supply: Smart Contracter/Twitter

Wanting on the analyst’s chart, he seems to be predicting a transfer down for Ethereum towards the $1,480 value stage.

As for Bitcoin (BTC), Pentoshi believes that the king crypto just isn’t but accomplished correcting. In keeping with the crypto strategist, he sees BTC going all the way in which right down to $21,500 earlier than bulls might mount a small bounce.

“I’d like to see this and could be eager to play it for a bounce.” 

Supply: Pentoshi/Twitter

At time of writing, Bitcoin is buying and selling for $22,490.

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