The Crypto Analyst Who Successfully Hit Bitcoin Bottom of 2018 Predicts Ethereum Drawdown – That’s His Downside Target

The crypto strategist who accurately predicted the Bitcoin (BTC) market low in 2018, is issuing a warning to Ethereum (ETH) holders.

Cryptocurrency analyst Smart Contracter tells his 210,300 Twitter followers that the leading smart contract platform Ethereum appears to be on track for an exhaustion rally to around $2,000 before losing more than 36% of its value relative to the top.

“If ETH hits a new high here over the weekend, it is preparing for a full five-wave daily move and a possible high in the new week when the old markets open.” If confirmed by a new high, long buying opportunities should appear. The good term is at $1,270 next month.

Advertising

Source: Smart Entrepreneur / Twitter

At the time of writing, Ethereum was trading at $1,682, down 3.07% from today.

Crypto analyst Pentoshi agrees with Smart Contractor’s view of ETH. Bentoshi tells his 592,300 Twitter followers that he believes Ethereum will likely correct as it struggles to maintain momentum around a key resistance area.

“Love a good doji every week. What often follows after you get into the resistance? You can argue that weakness shows strength. You won’t believe what’s next.

picture
Source: Bentoshi / Twitter

While Smart Contracter and Pentoshi are trending lower on ETH, famous crypto strategist Altcoin Sherpa says that Ethereum has a good chance of maintaining its bullish momentum if it can break the resistance at $1,700.

“Keep it simple. If Ethereum is accepted into this range then I think we could see a move towards higher highs as low as $2000. Everything keeps pumping if this happens because ETH/USD is driving the market, in my opinion.”

picture
Source: Altcoin Sherpa / Twitter

Never miss a thing – sign up to receive encrypted email alerts straight to your inbox

Check price action

Follow us TwitterFacebook and Telegram

Browse the Daily Hoodle Mix

Check out the latest news headlines

& nbsp

Get alerts

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / Media Castle

Leave a Comment