NEWSLETTER
According to a recent one <a target="_blank" href="https://x.com/ali_charts/status/1900521040125612432/photo/1″ target=”_blank” rel=”noopener nofollow”>mail In x by cryptographic analyst Ali Martínez, ethereum (eth) can go to $ 1,250, since it runs the risk of breaking down a parallel channel. However, other analysts suggest that an investment of trends could be on the horizon for the second largest cryptocurrency for market capitalization.
Is ethereum lower?
ethereum has been caught in a persistent lower trend in the last three months, throwing more than 50% of its market value. The digital asset has collapsed from $ 4,061 on December 16 to just above $ 1,900 at the time of writing, marking a strong 50%decrease.
Digital Asset Analyst Martínez warns that there may be more inconveniences for eth, especially after it fell below $ 2,200 in the daily table, decomposing a parallel channel. Martínez explained that this breakdown could boost the price of eth as low as $ 1,250.
Cryptographic analyst Daan crypto Trades offered a more cautiously optimistic perspective. The analyst stressed that eth has been consolidating after the recent sale of cryptocurrencies and has formed a wedge pattern that falls into the graph per hour, a pattern often associated with a possible reversal of local trends. They <a target="_blank" href="https://x.com/DaanCrypto/status/1900450218614616400″ target=”_blank” rel=”noopener nofollow”>aggregate:
But for that to happen, I would like to see the breakup and hold on the white area. If you can do that, we can start looking in the $ 2K+ region again.
Daan also pointed out the declining eth/bitcoin trade pair (btc). While he has shown some force in recent days, the analyst said that this is not enough to indicate a relief rally. <a target="_blank" href="https://www.coingecko.com/en/coins/ethereum/btc” target=”_blank” rel=”noopener nofollow”>Data Coingcko reveals that eth has fallen almost 60% against btc during the last year.
Experts offer hope for eth
crypto Trader Merlijn the merchant <a target="_blank" href="https://x.com/MerlijnTrader/status/1900215275959566710″ target=”_blank” rel=”noopener nofollow”>drawing Parallels between the current eth price action and its behavior during 2019-2020, which suggests that eth could be about to recover the bullish impulse. However, he emphasized that eth must first clean the key resistance at $ 2,260.
In the same way, the cryptographic analyst Ted took the similarities between ethereum and the 2019 btc price action. In an x position, he <a target="_blank" href="https://x.com/TedPillows/status/1900576714108944660″ target=”_blank” rel=”noopener nofollow”>saying:
What happens if $ 4K eth is like $ 14K btc in 2019? What happens if the Major ethereum rally hasn't even begun? Looking at the btc 2019-21 fractal, it makes me wonder if the previous manifestations of eth were only the beginning.
However, TED also warned that eth could first immerse yourself in the range of $ 1,400- $ 1,600 before any reversal of significant trends begins. Your analysis is aligned with a recent report Predict that eth could organize a rapid recovery at $ 3,000, driven by a possible brief squeery.
In a more positive note, eth could be approaching a strong recovery phase after entertainment A crucial overall zone. At the time of publication, eth is quoted at $ 1,933, 5.2% more in the last 24 hours.
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