{"id":135670,"date":"2024-08-16T17:00:03","date_gmt":"2024-08-16T14:00:03","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135670"},"modified":"2024-08-16T12:30:17","modified_gmt":"2024-08-16T09:30:17","slug":"ethereum-price-could-crash-significantly-according-to-crypto-expert","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ethereum-price-could-crash-significantly-according-to-crypto-expert\/","title":{"rendered":"Ethereum Price Could Crash Significantly According to Crypto Expert"},"content":{"rendered":"<p>Brandt\u2019s forecast follows a period of increased value for <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a><\/strong>, which saw a 13% rise over the past week. Despite this, experts are cautious about future performance. Arete Capital\u2019s McKenna doubts Ethereum will break through the $2,800-$2,900 range in August and September, noting recent resistance at $2,800.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I don\u2019t really expect <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$ETH<\/a> to break above $2800-2900 but rather remain range bound for August and some of September.<\/p>\n<p>There has been a substancial mean reversion but now price is trading close to supply. Not somewhere I would have high conviction being directly long.<\/p>\n<p>But\u2026 <a href=\"https:\/\/t.co\/2RhKcXpX50\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/2RhKcXpX50<\/a><\/p>\n<p>\u2014 McKenna (@Crypto_McKenna) <a href=\"https:\/\/twitter.com\/Crypto_McKenna\/status\/1823721585552904263?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">August 14, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Brandt identifies two scenarios based on chart patterns: the first suggests a potential exit if Ethereum exceeds $2,960, while the second indicates a likely decline to $1,650 if the rising wedge pattern holds. He notes that Ethereum recently dropped below the lower boundary of a key pattern, and is now retesting this level.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXc0TE7uLun6OGw1fQ1hJUjUkkJ3gZ64tUNDu4oRwCBPVsGYH-WZrUPkXOLM6gJ7kEMu9w58weh9dzd9ko6KpyqObpog85rr5CsTatHvVEJXA9w-Djd6QxwJjoJoptgJoAHmzt15XOp3YorW_PEWkmj0TJA?key=2wrpu0UrTiWhFmytaYoHtw\"><\/p>\n<p>Brandt\u2019s analysis includes a rising wedge pattern on shorter timeframes, which typically signals a downturn. He has initiated a short position targeting $1,651 and plans to exit if the price exceeds $2,961.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ethereum-may-be-nearing-a-bottom-against-bitcoin-analyst-suggests\/\" title=\"Ethereum May Be Nearing a Bottom Against Bitcoin, Analyst Suggests\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/ethereum-4-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ethereum May Be Nearing a Bottom Against Bitcoin, Analyst Suggests<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Recent data from Glassnode shows that while Ethereum\u2019s funding rates have been positive in 2024, a recent price drop has led to a decrease in these rates, reflecting a shift in market sentiment towards bearishness.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum&#8217;s price has risen 25% from its low of $2,112 on August 5, but veteran trader Peter Brandt is predicting a potential drop to around $1,650.<\/p>\n","protected":false},"author":3,"featured_media":28202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-135670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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