Top Crypto Analyst Issues Ethereum Alert, Says ETH Rally Different From March 2021 Bull Run

A popular crypto strategist is issuing an alert to Ethereum traders, saying ETH’s recent rally is not the same as last year’s bull run.

Pseudonymous analyst Rekt tells his 327,800 Twitter followers that while Ethereum managed to stay above support at $1,500, he believes ETH will likely resume its downtrend after a bounce.

“If ETH enjoys stronger follow-through from this recent successful retest of orange support, then ETH will be able to go up and form a macro lower high, much like in early 2021. That lower high would form at ~$1,800.” 

Image
Source: Rekt/Twitter

A macro lower high indicates that the trend is bearish and that the bounce will likely be short lived.

Rekt also highlights that although ETH is trading between $1,500 and $1,800 just like it did in March 2021, he says the less-than-stellar reaction of ETH bulls at range support shows the difference in trend.

“Compared to early 2021, however, the reaction is not as volatile now. There was no wick into the orange area to demonstrate a strong buy-side reaction.”  

Image
Source: Rekt/Twitter

Meanwhile, fellow analyst Michaël van de Poppe believes that one catalyst could push ETH above $1,800 and change the prevailing sentiment surrounding the leading smart contract platform.

“Ethereum fork happening on the 6th of September, which increases the odds of The Merge to be a success -> sentiment changing.

The scenario still going as planned. I don’t want it to drop sub $1,350.

If strength continues -> $2,200 next.”

Image
Source: Van de Poppe/Twitter

The Merge is Ethereum’s highly anticipated transition from a proof-of-work consensus mechanism to a proof-of-stake one.

At time of writing, ETH is swapping hands for $1,583, flat on the day.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/YanaBu/monkographic

Leave a Reply

Your email address will not be published. Required fields are marked *

doctors x videos bustyporntube.info tamana hot photos animal free mp3 download tubepatrol.sex 4kpron xvideoskerala sexo-vids.com maa bete ki sexy momo bnha hentai hentairay.com eye hentai نيك في السجن pornucho.com نيك في الجيم mobilexshare fuckholetube.com xossip aunties beeg hd sex blackporntrends.com www.indiansex videos.com xnxx tamil college girls mybeegsex.mobi gandi blue film bp picture video mein newcooltube.mobi kashmiri hot girls xnxx sex vedioes erosexus.info beeg' mom forced xnxx indaporn.info pela peli مواقع سكس هندي bombaporno.com زب مراهق politician mms goratube.mobi gokak sex video كلاسيك سكس porno-izlerim.org لحس كس مثير tere bina jeena saza bigassporntrends.com desi xossip