Famous crypto money analyst who made a name for himself with his analysis about altcoins Nicholas Merten commented on the recent uncertainty.
The analyst addressed his 511,000 followers and subscribers in his new YouTube video. analyst, especially bitcoin‘of (BTC) He talked about how the recent decline could affect other cryptocurrencies.
The Danger For Ethereum Will Begin This Time
The famous name describes the effect of this on ETH and altcoins as follows:
Right now we are seeing another drop in ETH price but so far we have been able to maintain the trend that started earlier in June and I think something similar will happen.”
According to the analyst, the preservation of this trend actually represents confidence in the market and everyone believes that there will be a bounce from this trend line.
Stating that there have been serious corrections since September 2021, the analyst shared that despite this, we are currently advancing to the critical point.
According to analyst ETH/BTC If it falls 10% below the 0.066 level on the chart, no one can stop the decline this time.
Especially ETH/BTC parity 0.06 level falling below and daily closing below it will be a big warning for all altcoins, according to the analyst.
It is expected that this will bring both a drop below an important support and a lack of confidence in the market. The ETH/BTC pair is currently trading at 0.067.
According to analyst ETH/USDT is the biggest supporter of Ethereum in parity 2,000 dollars Level.