Ethereum

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-strategist-warns-of-potential-ethereum-price-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Strategist Warns of Potential Ethereum Price Drop</a><br></p>
<p style="text-align: justify">A <a href="https://en.coin-turk.com/how-to-store-cryptocurrency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> strategist has issued a serious warning for Ethereum , predicting a significant price drop for ETH.</p>
<p style="text-align: justify">Analyst Justin Bennett informed his 111,100 followers on social media platform X that Ethereum is once again testing the diagonal support within its rising channel pattern.</p>
<h2 id="what-is-a-rising-channel-pattern">What is a Rising Channel Pattern?</h2>
<p style="text-align: justify">A rising channel pattern indicates that an asset is forming higher highs and higher lows, but this pattern can break if the price falls below the lower support.</p>
<blockquote>
 <p>“To say this moment is crucial for ETH would be a huge understatement. We will likely see a bounce here, but I think we will eventually see much lower levels for Ethereum.”</p>
</blockquote>
<h2 id="possible-drop-for-ethereum">Possible Drop for Ethereum</h2>
<p style="text-align: justify">According to Bennett’s chart, he predicts that Ethereum will fall below the channel’s support and retreat to the long-term trend line.</p>
<blockquote>
 <p>“My base case last year was for ETH to drop to $700. We will see.”</p>
</blockquote>
<p style="text-align: justify">A drop to $700 would mean a decrease of over 69% from ETH’s current prices. At the time of writing, ETH was trading at $2,278.</p>
<h2 id="impact-of-interest-rates">Impact of Interest Rates</h2>
<p style="text-align: justify">Bennett also noted that although the Fed rate cut expected this month is seen by many market participants as a catalyst for new rallies, it will not lead to sustainable rises.</p>
<blockquote>
 <p>“Markets look forward. Why wait for rate cuts for rallies? Any rally from risk assets after rate cuts is likely a trap.”</p>
</blockquote>
<p style="text-align: justify">The crypto strategist emphasizes that investors should carefully evaluate current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market conditions</a>. According to Bennett’s analysis, while short-term gains may be seen, the likelihood of long-term declines is high.</p>
<p style="text-align: justify">However, uncertainties about Ethereum’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> performance persist. Market dynamics and global economic indicators may be decisive for ETH’s price movements.</p>
<p style="text-align: justify">Such analyses can help investors better manage risks, but it is important for every investor to conduct their own research.</p>
<p>The post <a href="https://en.coin-turk.com/crypto-strategist-warns-of-potential-ethereum-price-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Strategist Warns of Potential Ethereum Price Drop</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Crypto Strategist Warns of Potential Ethereum Price Drop

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