Crypto Analyst Nicholas Merten Releases Ethereum Warning
The crypto market is pretty bloody today again, as the prices are seeing corrections. An important crypto analyst is warning of potential danger for the Ethereum (ETH) and altcoin markets. In a new DataDash YouTube video...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
The crypto market is pretty bloody today again, as the prices are seeing corrections. An important crypto analyst is warning of potential danger for the Ethereum (ETH) and altcoin markets.
In a new DataDash YouTube video, Nicholas Merten made sure to highlight the fact that there is still market confidence in Ethereum’s Bitcoin pair (ETH/BTC) despite recent drawbacks.
More downside for ETH?“We have seen here that… we’re having another drawdown here in ETH’s price. But, so far, we have continued to maintain the trend we started back here in June of higher lows in price and generally still testing either at the similar range or higher ranges.”
He continued and said this:
“This is indicative of confidence in the market. Now that being realized, we have had a pretty solid correction [since September 2021]. It’s coming to a very fragile point, where…”
He believes that if we break below this range that we have on the chart, “which is somewhere around the worst-case scenarios, 0.06 on the ETH/BTC ratios, we’re currently in 0.066” – He said that if we get about another 10% decline against that ratio, this could be showing the fact that the market is about to see a longer correction.
At the moment of writing this article, ETH is trading in the red, and the coin is priced at $2,534.
Ethereum amidst the current geopolitical situationThe other day, we were addressing the fact that the crypto trader Michaël van de Poppe just said that the current war in Eastern Europe could drive crypto stalwarts Bitcoin (BTC) and Ethereum (ETH) to new lows.
He just said that the conflict between Ukraine and Russia is causing economic uncertainties. These are impacting indices, inflation rates as well as the prices of gold and Bitcoin.
Check out our previous article in order to learn more about what he had to say.
The post Crypto Analyst Nicholas Merten Releases Ethereum Warning first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Ethereum falls 6%, leaving $1.35 billion in long bets at risk of liquidation
Ethereum’s slide toward $2,500 has put about $1.35 billion of leveraged long positions at increasing risk of liquidation. CoinMark...
Why Abstract is killing its Ethereum L2 instead of launching a token to save it
Abstract will shut down on Dec. 15 despite onboarding more than 400,000 users, hosting 144 apps, and landing brands including Disn...
Ethereum Researcher Says AI May Break Encryption Before Quantum Does
Ethereum Foundation researcher Justin Drake urged holders to calmly move funds to unused addresses, warning that AI-driven math co...
Pudgy Penguins Team to Shutter Ethereum Layer 2 Network Abstract
Another Ethereum Layer 2 chain bites the dust: Just days after the creators of the once-hyped Blast said they’re shutting down the...
Bitmine's Relentless Ethereum Buying Is About to End, Tom Lee Says
Speaking at Token2049 in Singapore, the chairman said Bitmine is about 100,000 ETH—roughly six to seven weeks—from its 5% cap, set...
Ethereum (ETH) Price Prediction: ETH Eyes Recovery From $2,600 as $2,666-$2,689 Becomes Resistance
Ethereum price is holding around $2,618 as buyers attempt to preserve the latest recovery, but the market is approaching a decisiv...