A well-known crypto analyst, Credible, believes Ethereum (ETH) is reaching a crucial point, currently trading near $3,000.
Ethereum’s Make-or-Break Moment
Credible, who boasts nearly 460,000 followers on X (formerly Twitter), suggests ETH might be nearing a local bottom before a price surge. He warns that if the $3,000 support level breaks, ETH could fall below $2,800. However, he anticipates a potential rally above $4,000 following a bottom.
Bitcoin’s Healthy Dip
Credible views the current Bitcoin (BTC) correction positively. He sees it as a setup for a potential short squeeze, where a price increase forces traders who bet against Bitcoin to buy back, further driving up the price. He’s not worried about the drop, stating that taking liquidity at the low end of the recent trading range is healthier than doing so at the high end.
BTC’s Future: A Dip Before the Rocket
While Credible expects a short-term BTC rally, he predicts one more price drop before a significant price increase towards $150,000. At the time of writing, Bitcoin is trading at around $102,080.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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