Crypto analyst Tice has declared that an Ethereum price rally to $4,000 isn’t a moonshot but one that is bound to happen. This came as he revealed that he was accumulating ETH based on the technicals, which point to a buy sentiment.
Analyst Reveals Ethereum Price Rally To $4,000 As A Structural Magnet
In an X post, Tice stated that an Ethereum price rally to $4,000 wasn’t a moonshot but a structural magnet. He further remarked that he was loading up on ETH while everyone is giving up. His conviction in ETH is based on the technicals, which point to an imminent rally for the second-largest crypto by market cap.
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The analyst noted that ETH’s structure was compressing while liquidity had been flushed. At the same time, the Ethereum price is forming higher lows under maximum doubt, and it is clear that the forced selling has been absorbed. Tice declared that this is not a weakness but the accumulation phase coming to an end, which will then usher in the breakout.
Tice also mentioned that the Ethereum price structure has refused to break under this much fear, which points to an imminent violent move to the upside. In another X post, the analyst doubled down on his bullish outlook for ETH. He noted that Ethereum is the most uncomfortable asset to hold right now, but that is exactly why it is going to explode.
He likened the current Ethereum price action to that of Netflix, which he noted spent years in a range and retested the lows six times before seeing a parabolic move to the upside. Tice declared that Ethereum is running the identical playbook, with the same compression, same frustration, and the same crowd walking away. As such, the analyst assured that ETH is not broken but is simply loading for its parabolic move to the upside.
Sell Signal Flashes For ETH
On the other hand, crypto analyst Ali Martinez has provided a bearish outlook for Ethereum, noting that a new sell signal has just flashed for ETH. He pointed to the TD Sequential indicator, which he said has been incredibly precise at anticipating ETH trends over the past year. The analyst added that every signal this indicator has flashed on the weekly timeframe has been validated by significant price action.
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As such, Martinez believes that the Ethereum price is entering another corrective phase with this new sell signal. He highlighted three downside targets if selling pressure accelerates. These targets are $1,900, $1,565, and $1,090, which are the short-term, mid-term, and long-term downside targets, respectively.
At the time of writing, the Ethereum price is trading at around $2,260, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com