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Home»Analysis»Ethereum to re-test the lower level before he puts 47% in the best scenario, says trader but there is a catch
Analysis

Ethereum to re-test the lower level before he puts 47% in the best scenario, says trader but there is a catch

2025-02-21No Comments2 Mins Read
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A Crypto analyst closely followed that Ethereum (ETH) will dive to test his lower limit before causing a huge rally to the benefit.

In a new strategy session, Crypto trader Ali Martinez tells Are 127,700 followers on the social media platform X that the second largest digital assets the best scenario tests the level of $ 2,300 as support before he rises 47% after $ 4,000.

However, Martinez notes that the leading smart contract platform on the worst case of volume could have it that it can form a pattern with double top, a bear flag that generally indicates the end of a bull market.

“In the best scenario, Ethereum is reached, which means that it can test $ 2,300 support before it returns to $ 4,000. In the worst-case scenario, however, this can be formed as a pattern with double top. “

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Source: Ali Martinezx

Martinez continues warn Traders that the Altcoin season could be canceled this time if Ethereum could not maintain the $ 2,600 level. He notes That whale activity centered around the top Altcoin has risen.

The trader concludes His analysis by saying that if Ethereum would lose the price tag of $ 2,600 as support, it could completely crash back to somewhere between $ 1,700 and $ 2,000.

“Ethereum is currently consolidating in a parallel channel … Currently, Ethereum is in the trend line with lower support, which is not good. In essence, losing this level can at $ 2,600, because support can lead to steep correction to $ 2,000 or even $ 1,700, so nobody is currently buying Ethereum. “

Ethereum acts for $ 2,720 at the time of writing, a fractional increase during the last 24 hours.

See also  Vitalik Buterin investigates the sunset of the EVM in favor of a simpler Ethereum version model

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