He remarked that ETH’s long-term holders may remain bullish just by looking at this BTC cycle, seeing as ETH could achieve a similar end result like the flagship witnessed in that cycle. Related Reading: Crypto Analyst Publishes Insanely Bullish Report For Ethereum, Here Are The Facts The analyst admitted that Ethereum has been under heavy pressure since early December last year and almost touched the 12-month falling support this week.
This development comes amid record selling among ETH investors, which continues to exert downward pressure on the crypto. Ethereum Could Be Mirroring Bitcoin’s 2018-2021 Cycle In a TradingView post, the Cryptagon stated that Ethereum has been repeating Bitcoin’s 2018 to 2021 cycle very closely.
A drop below this level could lead to another massive crash for the second-largest crypto by market cap, with many of these investors possibly selling off their coins in order to cut their losses. Related Reading: Analyst Says You’ll Regret Not Buying Ethereum At These Prices, Here’s Where It’s Headed Martinez has already raised the possibility of Ethereum crashing to as low as $800.
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