A popular crypto trader thinks things are going to get worse for the leading smart contract platform Ethereum (ETH) before they get better.
Pseudonymous analyst Bluntz tells his 224,700 followers on the social media platform X that ETH will likely continue its bearish price action in the coming weeks before flashing any sign of strength.
According to the trader, ETH will likely print a double-bottom reversal structure on the daily chart before ending its correction and rallying.
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“Nice breakdown on ETH overnight. I’m still targeting around $1,440 or so but will be on the lookout for signs of reversal earlier.”
Source: Bluntz/X
Bluntz also shares a chart showing that Ethereum could rally to as high as $2,500 following the reversal.
Source: Bluntz/X
Bluntz applies the
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