Here’s How Low Ethereum Could Go Down If ETH Fail To Hold $ 4,000, Says Top Crypto Analyst

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A closely watched cryptocurrency trader and analyst is investigating what could happen to Ethereum if ETH fails to maintain support at the $ 4,000 level.

In new TechnicalRoundup strategy session, pseudonymous analyst known as Cred examines Ethereum’s recent breakout above the $ 4,000 level to see if it’s convincing enough to cause ETH to uncover price. .

Given the possibility of a failed ETH breakout, Cred identifies potential areas where the main smart contract platform could build a lower bullish setup.

“If this break persists, great, because at this stage [it’s at] all-time high above weekly resistance, breakout, nothing… That’s good. If that doesn’t stick, I think there is some really clear and really good backing… in the low to mid $ 3000, around the $ 3000 handle…

In terms of candidates for the higher low areas, it must be, because there is nothing else.

The crypto analyst gives his general take on Ethereum in the weeks and months to come. According to Cred, how ETH reacts to the $ 4,000 and $ 3,000 levels may determine whether the leading smart contract platform may rise.

“Long story short for ETH: above $ 4,000, up. If it is less than $ 4,000, decrease in the short term but increase further as long as $ 3,000 is held. I think below $ 3,000 it completely changes the picture that you have a failed multi-month range breakout and then a support breakout that looms large. [the] weekly market structure. This is actually one of the worst graphics you can find.

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Featured Image: Shutterstock / Natalia80

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