Ethereum Could Plummet to Lower-$100 Level if Bulls Fail to Hold Key Support Level
Ethereum has been closely tracking Bitcoin’s price action in recent times, which has proven to be largely bearish. Mayne, a popular cryptocurrency analyst on Twitter, explained in a tweet from yesterday evening that he anticipated both Bitcoin and Ethereum to soon see some relief, although the market’s lackluster price action this morning may have invalidated this possibility.
Galaxy, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that ETH is currently trading within a bearish pennant that could spell significant trouble for the cryptocurrency’s near-term price action. It is highly probable that Bitcoin’s near-term price action will play a large role in any major movements seen amongst major altcoins like Ethereum, and a break below $7,000 could confirm Galaxy’s bearish ETH prediction.