Crypto analyst Tice has stated that a Ethereum price rise to $4,000 isn’t a moonshot, but one that will definitely happen. This came as he revealed that he was accumulating ETH based on the technicals, which indicate buying sentiment.
Analyst reveals that Ethereum’s price rise to $4,000 is a structural magnet
In one X messageTice stated that an Ethereum price rise to $4,000 was not a moonshot, but a structural magnet. He further noted that he was loading ETH while everyone else was giving up. Are belief in ETH is based on the technical data, which points to an upcoming rally for the second largest cryptocurrency by market cap.
Related reading
The analyst noted that ETH’s structure was compressing while liquidity had been flushed out. At the same time, Ethereum price is forming higher lows under maximum doubt, and it is clear that the forced selling has been absorbed. Tice stated that this is not a weakness, but the accumulation phase comes to an end, which will then herald the escape.
Tice also said that Ethereum’s price structure has refused to break under this major fear, indicating an impending violent move to the upside. In another X messagethe analyst doubled down on his bullish outlook for ETH. He noted that Ethereum is the most uncomfortable asset to own right now, but that’s exactly why it’s going to explode.
He compared the current Ethereum price action to Netflix’s, which he noted spent years in a range and retested the lows six times before seeing a parabolic move to the upside. Tice stated that Ethereum is using the same playbook, with the same compression, the same frustration, and the same crowd walking away. As such, the analyst assured that ETH is not broken, but simply loading due to its parabolic move upward.
Sell signal flashes for ETH
On the other hand, crypto analyst Ali Martinez has provided a bearish outlook for Ethereum, noting that there is a new one sell signal just flashed for ETH. He pointed to the TD Sequential indicator, which he said has been incredibly accurate in anticipating ETH trends over the past year. The analyst added that every signal this indicator has flashed on the weekly time frame has been validated by significant price action.
Related reading
As such, Martinez believes that the Ethereum price is entering another price range corrective phase with this new sell signal. He highlighted three negative objectives as selling pressure increases. These targets are $1,900, $1,565 and $1,090 respectively, which are the short-term, medium-term and long-term downside targets respectively.
At the time of writing, the Ethereum price is trading around $2,260, up in the past 24 hours, according to facts from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com