A popular crypto analyst who accurately predicted a pair of Bitcoin (BTC) price crashes is issuing a potential price warning on Ethereum.
Pseudonymous crypto trader Dave the Wave tells his 69,200 Twitter followers that current price action is starting to suggest that Ethereum (ETH) will likely have a solid correction that could bring it all the way down to $1,000 in price.
“Unchanged medium term chart of ETH/ USD.
[Price action] starting to confirm the predicted solid correction…. not of the ‘garden variety’.”
Source: Dave the Wave
The analyst’s chart forecasts Ethereum dropping to $1,350 sometime around the beginning of September, and then $1,000 the following month. ETH is trading at $2,012 at time of writing and is down 22% in the past 30 days, according to CoinGecko.
Still, the analyst says he’s bullish on Ethereum’s long-term future.