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Kryptagon cryptographic analyst has raised the possibility Price ethereum It reflected the Bitcoin cycle in 2018–2021, which he pointed out, was stubborn Eth. This development appears in connection with the sales record among ETH investors, which still exerts pressure on crypto.
Ethereum may reflect the Bitcoin 2018-2021 cycle
IN Post TradingviewKryptagon stated that Ethereum repeats the Bitcoin 2018 cycle to 2021 very carefully. He noticed that long -term ETH owners could remain stubborn, looking at it BTC cycleSeeing that ETH can achieve a similar final result, such as the flagship, witness in this cycle.
The analyst admitted that Ethereum has been under great pressure since the beginning of December last year and almost affected 12 months of support this week. However, despite this development, Kryptagon suggested that it is not time to be bears on ETH, because it can still reach modern ups because they reflect 2021 Bitcoin cycle.
He noticed that in the 2021 cycle, the reflection of falling support caused a massive breakthrough above the falling resistance, and the Bitcoin price increased to the extension of 1.618 Fibonacci. According to this, the cryptagon predicted it Ethereum could at least get USD 8,000 in this market cycle because it repeats a similar price.
This stubborn perspective of Ethereum appears in connection with the sale of records, which threatens any stubborn reversal of ETH. In the post x, Founder of Cryptoquant Ki Teenage JU He revealed that Ethereum has met with record sales over the past three months.
This contributed to worse ETH results, with Altcoin during this period exceeded by other main altcoins, such as XRP and Solana. While XRP touched the current all time (ATH), and Sol hit the modern ATH, ETH has not yet approached the current ATH.
The most crucial price level for ETH at the moment
In the post x, Ali Martinez cryptographic analyst, He revealed that USD 1,887 is currently the most crucial support level for Ethereum. At this level, investors bought 1.63 million ETH. The decrease below this level can lead to another mass disaster for the second largest crypto according to market capitalization, with many of these investors probably selling their coins to reduce losses.
Martinez has already raised the possibility of Ethereum failure up to USD 800. He noticed that Price level $ 4,000 He kept a powerful horizontal resistance line. However, ETH has recently taken out this trend, which significantly increased the likelihood of a price drop by 70% by 800 USD.
At the time of writing this text data with coinmarketcap.
A distinguished picture from Unsplash, tradingview.com chart
