A popular crypto analyst, known as Sherpa, is warning about a potential crash for Ethereum (ETH) against Bitcoin (BTC).
Ethereum’s Critical Support Level
Sherpa claims ETH is at a crucial point. If it breaks below a key support level of 0.01745 BTC, he predicts a massive 58% drop. This would send ETH back to price levels seen in early 2017. Currently, ETH is trading at 0.01898 BTC.
Bitcoin’s Predicted Price Action
Sherpa also shared his outlook on Bitcoin. He forecasts a short-term rally for BTC, followed by a correction of up to 20% from its peak. After the correction, another rally to even higher prices is expected later in the year. He believes Bitcoin’s price swings will heavily influence altcoins, including Ethereum. His prediction includes a BTC rally to $100,000, followed by a pullback to $80,000 before another significant rise in the third or fourth quarter. Bitcoin is currently trading at $94,460.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
/p>