A widely followed crypto analyst believes that a monumental collapse is in the cards for the smart contract platform Ethereum (ETH).
In a new video, analyst Nicholas Merten tells his 512,000 YouTube subscribers that Ethereum had more than a year to break out from an ascending triangle pattern.
According to Merten, Ethereum’s inability to convincingly move above the resistance of the bullish formation suggests that ETH is weak and likely headed to much lower levels.
“Ethereum cannot show up to the plate. It keeps getting shot down [at around] $2,000, and that’s okay for a while. But eventually, you’ve got to be able to either break out to the upside or if you break through the ascending line of support to the downside, that spells