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.
- Content Editor ( thecryptobasic.com )
- 2024-10-09
Market Veteran Predicts Ethereum Slump in Q4 2024, Citing Similar Trends in 2016 And 2019