The popular crypto analyst Nicholas Merten on his DataDash YouTube channel studied the Ethereum price chart and concluded that the current rally may not be sustainable. He pointed out that the current ETH’s price is above the momentum indicator and it could lead to a correction, similar to one that happened in May 2019 when the price went from around $80 to around $300.

Merten highlights the fact that this time the correction might not be as brutal as it was back then. He indicates the possibility of a less drastic price drop, and rather than expecting a doomsday scenario, he is hoping for more moderate fluctuations. At present, Ethereum is trading for about $2,099, with a minor price increase of 1.1% in the last 24 hours.

The crypto market is highly unpredictable and any lower price action needs to be closely monitored. As the crypto industry gradually matures, the price and value of Ethereum can be expected to stabilize over time. But volatility remains and the fact that the correction can take place continues to drive the fear of loss among investors. However, cryptocurrency can be a good option for long-term investments as it has the potential to deliver good returns if used cautiously.

Overall, the analyst’s assessment of the current Ethereum trend suggests that there may be a pullback in the near future. Investors need to keep an eye on the price action and be aware of Ethereum’s fluctuations. Furthermore, they should also make sure to invest wisely to minimize risk and maximize the potential for good returns.



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