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 (ETH) Price Prediction: ETH Tightens Near $1,880 as Analysts Debate Breakout Towards $3,000 or Another Bear-Market Leg
Ethereum price is consolidating around $1,880 as ETH moves deeper into a tightening technical structure, with traders watching whe...
Cboe pushes for 3x Bitcoin and Ethereum ETFs after 2x crypto funds suffer losses of up to 96%
Cboe BZX is asking the Securities and Exchange Commission (SEC) for an exception to its own generic listing rules so it can list f...
Wall Street finally turned staking into a dividend, now Ethereum and Solana want to shrink it
Grayscale's July 17 SEC filings said its Ethereum and Solana staking ETFs would convert staking rewards to cash and distribute the...
Ethereum (ETH) Price Prediction: ETH Volatility Compression Builds as Bulls Target $2,500 Recovery
Ethereum price has remained stuck in a tight trading range as volatility continues to fade, leaving traders waiting for the next m...
Machi Big Brother sells 3 Bored Apes to cut his Ethereum long in 52%, but liquidation moved to just $22 away
Three Bored Ape sales at steep losses accompanied a month-long contraction in the leveraged Ethereum account that Lookonchain publ...
Ethereum developers propose privacy changes for next major upgrade
Ethereum's proposed privacy upgrades could redefine user anonymity and regulatory compliance, impacting blockchain transparency an...