A popular crypto analyst, Credible Crypto, is warning about potential Ethereum (ETH) price drops. Despite ETH’s recent strength, the analyst sees trouble ahead.
Ethereum vs. Bitcoin: A Potential 20% Drop
Credible Crypto, who boasts a large following on X (formerly Twitter), predicts a significant downturn for ETH when compared to Bitcoin (BTC). Their analysis suggests a possible 20% fall in the ETH/BTC pairing from current levels. At the time of writing, ETH is trading at approximately $3,568.
Ethereum vs. USD: A Possible 24% Correction
Looking at ETH’s price against the US dollar, the analyst believes that failure to break the $4,000 resistance level could trigger a roughly 24% correction. This would bring ETH back to prices seen in early November. The analyst suggests a potential buying opportunity around $2,700-$2,800 if this correction occurs, coupled with a 10% Bitcoin correction.
Bitcoin: A Correction Before the Surge
Credible Crypto also anticipates a significant correction for Bitcoin (BTC) before it hits their predicted $100,000+ price target. While still bullish on BTC long-term, the analyst notes that the recent dip below $94,000 increases the likelihood of a larger downward move first. At the time of writing, Bitcoin is trading around $96,809.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always conduct thorough research and consider your own risk tolerance before making any investment decisions.
