Interesting Ethereum (ETH) Forecast from Famous Cryptocurrency Analyst: These Levels Are Visible!

Famous cryptocurrency analyst II Capo of Crypto, Ethereum (ETH) $1,700 if it cannot hold on to the area 800 dollars predicted it would decrease.

ii Capo of Crypto recently predicted a $700-$800 local bottom for Ethereum (ETH) on Twitter, suggesting that if the asset doesn’t capture the $1,700 region, it will drop to the $800 level.

Market Observer And Investor Predicts Ethereum Will Drop To $800 If It Doesn’t Hold $1,700

He also highlighted the tough resistance that ETH will face at $1,700, noting that this price point is crucial for the asset’s performance in the coming days.

“$1700 is a crucial resistance zone for Ethereum. If it cannot hold above this resistance zone, it may drop to $700-800,” the crypto investor tweeted about it.

$ETH zoomed out

$1700s is a very important resistance zone for Ethereum.

$700-800 is likely if it can’t consolidate above that resistance zone. https://t.co/WbdNVVKqxB pic.twitter.com/ueHMrF7MNs

— il Capo Of Crypto (@CryptoCapo_) November 2, 2022

ETH continued this latest rally as it started November on favorable ground despite being rejected at $1,650 on October 29.

It stayed above the $1,500 support level, but iI Capo of Crypto believes the dark days could happen sooner than the community expects.

ii Capo built on his previous analysis by claiming a hard rejection if ETH manages to touch the $1,700 zone.

The last time ETH traded above $1,700 was in mid-August, when the asset saw the nearly $2,000 area before encountering fierce rejection.

ETH, on the other hand, has not seen the $800 price point again since December 2020. The lowest level the asset fell this year was $900.

This means that iI Capo’s prediction will come true, meaning that ETH will see the lowest price point in this cycle.

*Not investment advice.