Ethereum

Token

Better

Memecoin

Shiba Inu

<p>Ethereum (ETH) has seen strong growth in recent months, with the price rising from around $1,500 in mid-October to over $2,170 at the time of writing. However, according to veteran commodities trader and crypto analyst Peter Brandt, ETH may be due for a significant pullback in the near future.</p>
<p>In a tweet posted earlier today, Brandt <a href="https://x.com/PeterLBrandt/status/1736725295628276152?s=20" target="_blank" rel="noopener noreferrer nofollow">pointed out</a> that ETH appears to be forming a “rising wedge” pattern on its price chart.</p>
<p>As he explained, “Classical chart patterns in price charts are not sacred — they fail to perform according to the textbooks all the time. But if the rising wedge in Ethereum $ETH complies with the script, the target is $1,000, then $650.”</p>
<p>Essentially, Brandt is suggesting that if this rising wedge pattern plays out as technical analysis would predict, the ETH price could fall back dramatically—first to around $1,000, representing a 50%+ retracement from current levels, and then potentially as low as $650.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="545" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-1024x545.png" alt="" class="wp-image-401863" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-1024x545.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-767x408.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-1536x817.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-2048x1090.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-282x150.png 282w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-658x350.png 658w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512-788x419.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-512.png 1479w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Brandt disclosed that based on this analysis, he personally “shorted ETH on Friday,” betting on a price decline. However, he also set a protective break-even stop loss order, limiting his risk in case the pattern fails.</p>
<p>It remains to be seen whether Brandt’s bearish prediction will come true. But given his extensive experience successfully trading various markets and assets for decades, his view carries significant weight. With the crypto markets cooling in recent weeks after a very hot November, ETH bulls may want to keep a close eye on the charts as we head into 2024.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoin-correction-coming-according-to-experts-btc-price-could-plunge-30-to-key-support-levels/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Correction Coming According to Experts, BTC Price Could Plunge +30% to Key Support Levels</a></li>
 <li><a href="https://captainaltcoin.com/shiba-inu-shib-price-could-spike-over-30-if-this-crucial-support-holds/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Price to Spike Over 30% If This Crucial Support Holds</a></li>
 <li><a href="https://captainaltcoin.com/coinbase-lists-bonk-token-new-pump-incoming-or-is-this-memecoin-presale-a-better-bet/" target="_blank" rel="noopener noreferrer nofollow">Coinbase Lists $BONK Token — New Pump Incoming or Is This Memecoin Presale a Better Bet?</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-ethereum-eth-price-faces-impending-50-collapse-according-to-crypto-veteran/" rel="noopener noreferrer nofollow">Why Ethereum (ETH) Price Faces Impending 50% Collapse According to Crypto Veteran</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Ethereum (ETH) Price Faces Impending 50% Collapse According to Crypto Veteran

목차

CaptainAltcoin

2023년 12월 18일에 게재된 다른 기사

Apeiron’s Launch on Ronin: A New Era in Blockchain Gaming

Crypto Market Trends and ADA Coin Analysis

Metagood Secures $5 Million To Propel Osura Marketplace for Bitcoin Art

Bitcoin and Cryptocurrencies Showing Weakness: Will There Be Further Declines?

UK publishes FCA regulations for digital securities sandbox

ChainGPT AI NFT Saturday Spotlight: Winners for 12.16.

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!