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Crypto -analyst Max has revealed that the Ethereum price is at a critical intersection that can determine the process in the future. The analyst noted that ETH is confronted with a ‘moment of truth’ and explained that the crypto could enter a bearish phase if it does not complete a certain pattern.
Ethereum Price is confronted with the moment of truth after the crash from ETH to $ 3,000
In one XMax stated that the Ethereum price here is confronted with a moment of truth after the ETH crash up to around $ 3,000. The crypto analyst added that if ETH is not completing his famous “Ultra-Scary 3 Drive in the Lows” pattern before he is saved miraculously, then it is over for a while, indicating that the crypto could suffer Further down trend.
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Max further explained that there is nothing but air under the price structure of Ethereum, which he emphasized in his graph. His corresponding graph showed that the next important level of support for ETH under $ 3,000 $ 2,400 was, indicating that the crypto could fall as low as this is the Psychological level of $ 3,000 As support.
The Crypto analyst then mentioned the worst case that could happen before the Ethereum price is specified if it is the $ 2,800 wick and then the Bitcoin -price drops Up to as low as $ 95,000. In such a scenario, Max noted that ETH would need an immediate response, possibly because of the bearish sentiment that could lead to investors.
In the meantime, however, the analyst still seems to be bullish about the Ethereum price, and confirms that he does not intend to sell his place. Crypto -Walvissen also seem to be bullish about ETH, despite its underperformance, because they actively gathered in the past week. Bitcoinist reported that The large transaction volume of Ethereum In 24 hours more than 200% increased, which indicates an accumulation trend of these whales.
How the ETH price promotion could come true
In an X -message, crypto analyst predicted how the Ethereum price campaign could play this year, while he claims that ETH is currently being suppressed, so that large players can accumulate. According to the analyst, ETH could break up to the Psychological price level of $ 4,000 By the end of February.
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After this, Wolf predicts that the Ethereum -Price Will enjoy a bullish mars because it collects in days from $ 4,000 to $ 5,000. He added that the second largest crypto from Market Cap could reach $ 6,500 at the beginning of April. Once that happened, the analyst expects Ethereum to experience two to three weeks of price correction before it pushes to between $ 9,500 and $ 10,000.
At the time of writing, the Ethereum price trades around $ 3,100, according to almost 2% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Unsplash, graph of TradingView.com