Analyst Jason Pizzino Issues Ethereum Alert, Says ETH Looking Very Weak – Here Are His Downside Targets

Cryptocurrency analyst and dealer Jason Pizzino warns that Ethereum (ETH) can fall in worth for one necessary motive.

In a brand new video, Pizzino tells His 349,000 YouTube subscribers who can fall ETH by greater than 47% of the present worth after the highest altcoin could have fashioned a bearish double prime sample on the weekly graph.

A sample with double prime is taken into account by technical analysts as a bearish indicator and means that bulls miss the facility to push the value of the crypto belongings to higher heights.

“It appears actually complete, very weak right here and as if it desires to proceed to fill within the hole of this value vary, someplace between $ 1,600 and $ 1,700 and in precept the place it’s now, round $ 2,100. So if you happen to begin to see a breakdown of those lows, will in all probability come again and this vary, if not the vary, will likely be there, at $ 1,500 to $ 1,600. So actually no nice issues for ETH.

And I’ve beforehand known as these two different value objectives, $ 1,300 and $ 1,200, $ 1,166 – that’s truly your 150% low cost on the double prime, which I’ve proven [has happened] Many, many instances over a number of completely different belongings: Bitcoin, it occurred on the S&P 500, it occurred on shares. It truly occurred on the whole lot. “

ETH has been traded for $ 2,231 for the previous 24 hours on the time of writing, a rise of two.4%.

https://www.youtube.com/watch?v=KBGN8SFFTL0

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