A widely followed analyst suddenly warns that the crypto market may not have finished correcting yet.
Pseudonymous crypto trader Kaleo tells Significant rallies for Bitcoin (BTC) and other digital assets may not resume until they reach lower prices for the first time, according to his 675,300 followers on social media platform
“I still think there’s a chance we see a little bit lower across the board before we start ripping again. Just appreciate the peace that is here while it lasts. When we go back up it will be violent. Up just takes a lot more energy than any other phase of the market. Plan accordingly before it’s back.
Other analysts are also weighing in on market conditions with similarly bearish near-term forecasts.
The much followed crypto analyst Justin Bennett tells his 115,800 followers on the social media platform
“I posted this ETH chart [on December 21st] Showing $3,541 as weekly resistance was one of my concerns about crypto over Christmas. Note where Ethereum struggled this week. Yes, we had a Christmas boost, but it was low volume and mainly retail. It still seems to me that we could see a decline against crypto before we hit the bottom in early 2025.”
Ethereum (ETH) is trading at $3,367 at the time of writing, down 2.8% in the past 24 hours.
The analyst under the pseudonym Rekt Capital tells his 115,800 followers on social media platform
“Looks like this was the relief meeting. These previously lost points of support appear to act as resistance for the time being.”
Bitcoin is trading at $95,945 at the time of writing, down 2.9% in the past 24 hours.
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