{"id":811858,"date":"2024-12-11T22:21:46","date_gmt":"2024-12-12T04:21:46","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/11\/ethereum-could-see-a-53-price-correction-if-this-happens-analyst\/"},"modified":"2024-12-11T22:21:46","modified_gmt":"2024-12-12T04:21:46","slug":"ethereum-could-see-a-53-price-correction-if-this-happens-analyst","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/11\/ethereum-could-see-a-53-price-correction-if-this-happens-analyst\/","title":{"rendered":"Ethereum Could See a 53% Price Correction If This Happens\u2014Analyst"},"content":{"rendered":"

Bitcoins <\/p>\n

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\n\t\t\t\t\t\t\t\"bitcoins\t\t\t\t\t\t<\/figure>\n
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Ethereum has been experiencing sluggishness in its price performance recently, as the cryptocurrency continues to closely follow Bitcoin\u2019s movements. Currently trading at $2,392<\/a>, Ethereum is down 1.5% in the past 24 hours, adding to its gradual decline in recent days.<\/p>\n

This drop follows a brief price surge last week, where Ethereum saw a slight surge to above $2,600. Despite the minor increase, Ethereum remains down by 51% from its all-time high of $4,878, recorded in 2021.<\/p>\n

Bitcoins Ethereum Potential To Fall 53%<\/h2>\n

The sideways movement in Ethereum\u2019s price has left traders cautious. Amid this, renowned crypto analyst Ali has offered his perspective on Ethereum\u2019s current trajectory<\/a> in a recent post on X.<\/p>\n

Ali pointed out that Ethereum\u2019s price action tends to follow a particular pattern based on TD Sequential indicators. He explained that whenever Ethereum breaks above the TD setup resistance trendline, a strong bull run often ensues.<\/p>\n

\"bitcoins
Ethereum price chart. | Source: Ali on X<\/figcaption><\/figure>\n

However, when Ethereum dips below the TD setup support trendline, it typically results in a significant price correction. According to Ali, Ethereum is nearing a critical support level<\/a> of $2,250, warning that if this support is breached, it could trigger a major price drop.<\/p>\n

Ali further emphasized that ETH has previously seen an average of 53% corrections following similar breakdowns, suggesting that losing the $2,250 level could spell trouble for the cryptocurrency.<\/p>\n

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Each time #Ethereum<\/a> breaks above the TD setup resistance trendline ????, a strong bull run follows. But when $ETH<\/a> breaks below the TD setup support trendline ????, we\u2019ve seen an average 53% correction.<\/p>\n

The key support now is $2,250\u2014losing it could trigger a significant price drop. pic.twitter.com\/PljkRda78S<\/a><\/p>\n

\u2014 Ali (@ali_charts) October 10, 2024<\/a><\/p>\n<\/blockquote>\n

Bitcoins On The Flip Side<\/h2>\n

While Ali expresses concern over Ethereum\u2019s potential for a significant downturn, other analysts remain optimistic about its long-term potential<\/a>.<\/p>\n

\"bitcoins
ETH price is moving downwards on the 1-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

A crypto analyst going by the name EtherNasYoNAL on X recently shared a bullish outlook<\/a> for ETH, suggesting that the cryptocurrency could be on the verge of entering a new \u201cmega bull\u201d cycle.<\/p>\n

According to the analyst, ETH is currently in the final stages of what they describe as a \u201cretest and accumulation process.\u201d This phase is reminiscent of Ethereum\u2019s price movements<\/a> in 2020, where it underwent a similar process before the 2021 mega bull run.<\/p>\n

The analyst added that Ethereum\u2019s price action in the months of August, September, and October 2020 followed a specific pattern, with accumulation and retests before the asset saw a significant rise.<\/p>\n

EtherNasYoNAL believes Ethereum is currently mirroring this process and is poised to enter another mega bull cycle, expected to occur around 2025.<\/p>\n

Despite the current decline, the analyst remains confident that Ethereum\u2019s long-term trajectory is still bullish, encouraging investors to remain patient and await the expected price surge.<\/p>\n

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#Ethereum<\/a> winks at the 2025 mega bull!<\/p>\n

Before the 2021 mega bull, we witnessed the retest and accumulation process in August, September and October 2020.$ETH<\/a> is in the final stage of the retest and accumulation process in August, September and finally October before the 2025\u2026 pic.twitter.com\/VsE36le746<\/a><\/p>\n

\u2014 E\u1d1b\u029c\u1d07\u0280N\u1d00\ua731\u028f\u1d0f\u0274\u1d00L ???? (@EtherNasyonaL) October 9, 2024<\/a><\/p>\n<\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n<\/p><\/div>\n

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\"bitcoins\t\t<\/p>\n

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Bitcoins
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\n\t\t\t\t\tSamuel Edyme\t\t\t\t<\/a>
\n\t\t\t<\/h2>\n
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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.<\/p>\n

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Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.<\/p>\n

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics.<\/p>\n

When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026)<\/p>\n

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life.<\/p>\n

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.<\/p>\n

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think’s probably unfeasible, I’ve done already a hundredfold.\u201d<\/p>\n

PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

Disclaimer:<\/strong> The information found on NewsBTC is for educational purposes
\n\t\t\t\t\t\t\tonly. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
\n\t\t\t\t\t\t\tinvestments and naturally investing carries risks. You are advised to conduct your own
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Samuel Edyme Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum has been experiencing sluggishness in its price performance recently, as the cryptocurrency continues to closely follow Bitcoin\u2019s movements. Currently trading at $2,392, Ethereum is down 1.5% in the past 24 hours, adding to its gradual decline in recent days. This drop follows a brief price surge last week, where Ethereum saw a slight surge<\/p>\n","protected":false},"author":1,"featured_media":811859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1812,25740],"tags":[11476],"class_list":{"0":"post-811858","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-could","8":"category-ethereum","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=811858"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/811859"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=811858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=811858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=811858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}