CandleFocus Market Veteran Predicts Ethereum Slump in Q4 2024, Citing Similar Trends in 2016 And 2019
2024-10-09
Author: Content Editor
Market veteran Benjamin Cowen has highlighted cyclical breakdown patterns in Ethereum in 2016 and 2019, predicting a repetition in Q4 2024. He shared charts showing similar behavior in Ethereum's ETH/USD monthly candles, with a breakdown against Bitcoin (ETH/BTC) occurring in similar circumstances as in previous years. The question remains whether ETH/USD will fall further to align with historical trends. Recent on-chain reports have also shown large amounts of Ethereum being transferred to exchanges, suggesting bearish pressure on the cryptocurrency.
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