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Crypto analyst MAX has revealed that the price of Ethereum is in an important junction. This allows you to determine the future trajectory. The analyst stated that ETH faced the “Truth Moment” and explained that if a specific pattern is not completed, the cipher can enter the bear.
The price of Ethereum faces the moment of the truth after ETH collides to $ 3,000.
In the X post, MAX stated that it was facing the true moment after the Ethereum price was about $ 3,000. Crypto analysts may end up miraculously before the famous “Low Drive to Super Scary 3 Drive”, which is famous for ETH, may end for a while and Crypto may suffer further down trends. I added that it was showing that.
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Max further explained that there was nothing except air under the price structure of Ethereum. His accompanying chart indicates that the next important support level of $ 3,000 or less is $ 2,400, and if the psychological $ 3,000 level is lost, the cipher is the same as this level. It indicates that it may be low.
The crash of ETH puts the price at the intersection | Source: Max ON X
Crypto analyst mentioned the worst case that could occur before giving up the Ethereum price. This is to wipe the $ 2,800 wicks and reduce the price of bitcoin to $ 95,000. In such a scenario, Max stated that ETH needs to react immediately because of a bearish emotion that may probably sprinkle sparks among investors.
However, the analyst seems to be bullish in the Ethereum price in the meantime, reconfirming that he is not going to sell his spot home dings. Since the crystal whale has been actively accumulated in the past week, it looks bullish against ETH despite its insufficient performance. The Bitconist reported that the large transaction volume of Ethereum has risen over 200 % in 24 hours, indicating a trend of accumulation from these whales.
How the ETH price action will be developed
In the X post, Crypto Analyst Wolf predicted how ETH is currently being suppressed so that large players can accumulate, and how Ethereum’s price action can be expanded this year. According to analysts, ETH may enter the price of $ 4,000 by the end of February.
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Following that, Wolf predicts that the price of Ethereum will increase from $ 4,000 to $ 5,000 a day, and will enjoy a bullish march. He added that by early April, the second largest cipher with market capitalization could reach $ 6,500. When this is completed, the analyst hopes that Ethereum will push to $ 9,500 to 10,000 before Ethereum has two to three weeks.
According to CoinmarketCap data, the price of Ethereum is about $ 3,100 at the time of writing, decreasing almost 2 % in the past 24 hours.
3,137 ETH transactions on 1D chart | Source: EathusDT on TradingView.com
Special image of UNSPLASH, Chart of TradingView.com
