A widely watched cryptocurrency analyst believes that the smart contract platform Ethereum (ETH) may experience a huge collapse.In a new video, analyst Nicholas Merten tells his 512000 YouTube subscribers that it will take over a year for Ethereum to break through the rising triangle mode
A widely watched cryptocurrency analyst believes that the smart contract platform Ethereum (ETH) may experience a huge collapse.
In a new video, analyst Nicholas Merten tells his 512000 YouTube subscribers that it will take over a year for Ethereum to break through the rising triangle mode.
According to Merten, Ethereum is unable to convincingly break through the resistance level of bullish forms, indicating that ETH is weak and may fall to lower levels.
Ethereum cannot appear on the plate. Its price has been around $2000, but for a while it was normal. However, in the end, you must be able to break through upwards, or if you break through the downward support line, it means bad news. This is a failed technology model
Therefore, if we are not planning to seize buying here, then this means that we may re-examine the $1100 (previous support range) or fall back to $890 as in June.
Or even worse: perhaps our Ethereum prices between $300 and $500 are not too pessimistic at all. Perhaps the distance is not far
As of the time of writing, the trading price of Ethereum was $1597, slightly lower than the diagonal support level of Merten's rising triangle pattern.
Merten is not the only analyst who has raised concerns about the possible collapse of Ethereum. Cryptocurrency strategist Benjamin Cowen previously stated that ETH may plummet to $400.
It is highly likely that there will be a lower low point, and it may not be much lower, perhaps just falling slightly below $800. It may be lower. It may rise to $600, $500, or $400, but it is possible for Ethereum
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