A popular crypto analyst, Credible Crypto, is expressing bearish sentiments towards Ethereum despite its recent strength in the market. With a significant following on social media, the analyst warns that Ethereum is approaching a critical point when compared to Bitcoin. According to the analyst’s chart, it is suggested that the Ethereum/Bitcoin pair (ETH/BTC) could see a potential drop of up to 20% from its current level. Ethereum is currently trading at 0.0369300 BTC ($3,568).
In terms of Ethereum’s price against the US dollar, the analyst predicts a possible pullback of up to 24% if it fails to break above the resistance level around $4,000. This could lead to Ethereum revisiting prices last seen in early November. The analyst outlines a potential buy zone of $2,700-$2,800 if Ethereum experiences a rejection and forms a lower high, combined with a 10% correction on Bitcoin. It is important for traders to pay attention to these key levels in order to make informed trading decisions.
Shifting focus to Bitcoin, the analyst believes that the leading cryptocurrency is poised for a significant price correction before making any major moves to the upside. Despite still having a bullish long-term outlook with a target of $100,000+, the analyst warns of a potential larger move to the downside following a drop below $94,000. Bitcoin is currently trading at $96,809, showing a slight increase from its recent low of around $90,700. Traders and investors should remain vigilant and stay updated on market developments to adjust their strategies accordingly.
It is crucial for crypto traders and enthusiasts to stay informed about the latest market analysis and predictions from reputable analysts like Credible Crypto. By following social media platforms and subscribing to email alerts, individuals can receive timely updates on potential price movements and key levels to watch for in Ethereum and Bitcoin trading. Understanding technical analysis and market dynamics is essential in navigating the volatile cryptocurrency market and making informed decisions to optimize trading strategies. With the potential for significant price movements on the horizon, staying informed and proactive is key to success in the crypto market.
In conclusion, Ethereum and Bitcoin are currently at critical junctures in the market, with potential price corrections and buy zones indicated by the analyst. Traders should pay close attention to key resistance levels and support zones to anticipate potential price movements and adjust their strategies accordingly. By staying informed through reputable sources and social media platforms, traders can make more informed decisions and navigate the volatile crypto market with greater confidence. As the crypto market continues to evolve, staying up-to-date with the latest analysis and predictions can help individuals make strategic moves to capitalize on opportunities and mitigate risks in their trading activities.
