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.
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.
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.”
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