cryptocurrency Experienced analyst who stands out with his predictions and analyzes in the market Peter Brandt from Twitter account Ethereum (ETH) He made a new post about the price.
Maintaining a bearish sentiment for Ethereum, the analyst claimed that the ETH price may witness a steep decline and may even drop to as low as 3 digits.
at this point ETH Stating that a rising wedge formation has formed on the price chart, the analyst stated that ETH may experience a major collapse in the coming days.
ETH Stating that the first target for the company was $ 1000, the analyst said that the next target was $ 650.
“The classical formations on the charts are not always going to happen, they do not always perform according to the classical formations.
However, if the rising wedge formation in Ethereum continues, the target in ETH is $ 1000, then $ 650.
“I opened a short position on ETH on Friday but I have a stop level.”
Classical chart patterns in price charts are not sacred – they fail to perform according to the textbooks all the time
But, if the rising wedge in Ethereum $ETH complies with the script, the target is $1,000, then $650
I shorted ETH on Friday — I have a protective B/E stop pic.twitter.com/76CciT3PE5
— Peter Brandt (@PeterLBrandt) December 18, 2023
As you may remember, Peter Brandt does not think positively about ETH itself, apart from the price. Because, in his post on Friday, the analyst compared ETH to scrap and stated that Ethereum may not even be a listed asset in the next 10 years.
*This is not investment advice.
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