Ethereum can expect a drop to $ 150

The Bitcoin rally in the last few months is certainly very impressive.

Even more impressive are the profits of Ethereum . The second-largest cryptocurrency reported more than 13% gains in the last 30 days, according to data from Coin360. Over the same period, Bitcoin fell 4%, while some altcoins such as XRP and BSV lost almost 10%.

The ability of Ethereum to perform better than other cryptocurrencies for some analysts confirms that there is still a rise for altcoin.

One analyst wrote the following about the asset’s ability to stay above key resistance levels. 

“ETH Daily [graphics] – The bulls have made pretty good graphics without any real pressure to buy.”

One well-known analyst fears that a ‘ storm ‘ is taking shape in Ethereum, citing two technical factors that suggest a reversal of the trend. 

He shared a chart in which ETH reported two signs that it was preparing for a downward movement.

1 – TD consecutive indicator is on candle ‘ 9 ‘, most common in reversals of the trend.

2 – The price was rejected on a downward trend.

Another trader shared a similar sentiment . His chart shows that when Bitcoin was rejected at $ 10,400 this week, Ethereum also suffered a $ 250 rejection.

The rejection happened just as the price reached a downward trend line, which has limited the rally in recent years, suggesting that we may see a decline to $ 150.