Top Crypto Trader Sees Ethereum (ETH) and Total Market Cap Testing Support, Issues Warning on Stocks

Top Crypto Trader Sees Ethereum (ETH) and Total Market Cap Testing Support, Issues Warning on Stocks


A popular crypto analyst and trader is warning his followers that Ethereum (ETH) could suffer a nearly 45% drop if current support breaks.

Cryptocademy founder Justin Bennett tells his 108,500 Twitter followers that ETH is testing the “neckline” on a possible head and shoulders trend.

“ETH is testing the neckline. 

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The target is $800 if this breaks.”

Source: JustinBennettFX/Twitter

With ETH currently trading for $1,142, a drop to $800 would represent a 44% decline.

Bennett also looks at the total crypto market cap (TOTAL), an indicator of the strength of the crypto markets. Bennett warns that TOTAL may be meeting an upward resistance while stocks are spelling trouble for digital assets.

“TOTAL appears to be finding resistance at the 2015 trend line I’ve mentioned, and stocks look terrible. 

Be

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