A crypto strategist who accurately predicted a bottom for Bitcoin (BTC) during the 2018 bear market 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 from the rally.
“If ETH makes a new high here over the weekend, it is preparing for a daily five-wave completed move and a possible top in the new week when the old markets open.” If a new high is confirmed, some good long-term buying opportunities should emerge near mark $1,270 next month.”
At the time of writing, Ethereum was exchanging hands for $1,682, down 3.07% from today.
Fellow crypto analyst Pentoshi agrees with the Smart Contracter’s view of ETH. Bentoshi tells his 592,300 Twitter followers that he believes Ethereum will likely correct as it struggles to maintain its momentum around a key resistance area.
“I like a good doji a week. What often happens after you encounter resistance? You can make an argument that weakness appears upon resistance. You won’t believe what happens next.”
While the Smart Contracter and Pentoshi are trending lower on ETH, famous crypto strategist Altcoin Sherpa says that Ethereum has a good chance of keeping its bullish momentum alive if it manages to break the resistance at $1,700.
“Keep it simple. If Ethereum gains traction in this range, I think we could see a rally to higher highs in the lower $2000s. Everything keeps pumping if this happens because ETH/USD is driving the market, in my opinion.”
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