Crypto Smart Contracter, which accurately predicted the bottom of Bitcoin (BTC) during the 2018 bear market, came to the fore with its new comments. In addition, the analyst issued a warning to holders of the leading altcoin Ethereum (ETH). Here are the details…
Smart Contracter commented on Bitcoin and altcoin market
Anonymous crypto analyst Smart Contracter, to his 210,300 Twitter followers, thinks Ethereum, the leading smart contract platform, may be “running out”. The analyst states that ETH may lose 36 percent of its value from the highest value. He says that prior to that, a exhaustion rally to around $2,000 appears to be on its way. Smart Contracter used the following statements:
If ETH makes a new high here over the weekend, it will establish a potential top in the new week with five daily completed waves and old markets opening. If confirmed by a new high, some long-term buying opportunities could be offered next month around $1,270.
At the time of writing, Ethereum is changing hands for $1,730, up 3.07% on the day. As we reported as Kriptokoin.com, Smart Contracter foresaw $3,200 for BTC in 2020. He also correctly predicted that BTC would rally towards the end of 2020. Apart from that, he correctly predicted that the cryptocurrency would exceed $23,000 in 2021. In Ethereum, he predicted the $1,600 drop in March last year. He knew about the withdrawal in September 2021.
Pentoshi also expects a drop in ETH
Other crypto analyst Pentoshi agrees with Smart Contracter’s view on ETH. Pentoshi told his 592,300 Twitter followers that he believes Ethereum will likely recover as it struggles to maintain its momentum around a major resistance area.
I like to do a good doji analysis per week. What usually happens after you enter resistance? You could argue that resistance is showing weakness. You won’t believe what’s next.
While Smart Contracter and Pentoshi are bearish in ETH, popular crypto strategist Altcoin Sherpa says Ethereum has a good chance to keep the bullish momentum alive if it manages to break the resistance at $1,700.
Let’s keep it simple. If Ethereum is accepted into this range, I think we could see a move towards the $2,000 highs. I think if this happens because ETH/USD is leading the market, everything will continue to rise.
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