Latest News

This Crypto Analyst Says Ethereum Pullback Is About To End, Here’s Why

This Crypto Analyst Says Ethereum Pullback Is About To End, Here’s Why By Benzinga

Breaking News

‘;

Stock Markets 2 hours ago (Sep 17, 2022 15:10)

© Reuters. This Crypto Analyst Says Ethereum Pullback Is About To End, Here’s Why

Pseudonymous cryptocurrency analyst Smart Contracter said that Ethereum (CRYPTO: ETH) is close to completing its final leg before turning bullish.

He has predicted that Ethereum will fall to around $1,200 by October before rallying toward his target above $2,000.

According to the analyst, Ethereum is in the middle of a C-Wave Down, which he believes would set the stage for a new leg up.

Earlier in August, he predicted ETH would print a lower high, around $1,800 (B wave) this month.

Also Read: Here’s Why This Analyst Says ‘Ugly’ Ethereum Price Action Should Be Ignored

“Looks like the larger ABC correcting the five-wave rise has begun on ETH. This looks like an A wave, for now, expecting a bounce that ends up being a lower high soon.” he noted

“In my opinion, $1,300 is still the spot to look for buys, provided the structure seems right when we get there,” he added.

This week, ETH officially transitioned to a proof-of-stake network. The blockchain completed The Merge to PoS.

The Merge took place at a block height of 15537393 when the required level of Total Terminal Difficulty was reached.

The Ethereum Foundation estimates that the shift will bring about a 99.95% reduction in energy consumption.

At the time of writing, Ethereum was trading at $1,425, close to 18% down in the last seven days.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

This Crypto Analyst Says Ethereum Pullback Is About To End, Here’s Why

This Indian Billionaire Just Ousted Jeff Bezos As World’s Second-Richest PersonBy Benzinga – Sep 17, 2022

Indian business tycoon and billionaire Gautam Adani surpassed Jeff Bezos to become the world’s second-richest person.
As Adani climbs the ranks of the Bloomberg Billionaires…

FDA Okays bluebird bio’s $3M Gene Therapy For Rare Neurological Disorder In Boys: What Investors Should KnowBy Benzinga – Sep 17, 2022

Biotechnology company, bluebird bio, Inc. (NASDAQ: BLUE) announced late Friday that the Food and Drug Administration approved its gene therapy for a rare neurodegenerative…

Goldman Trims US Growth Forecast On Fed’s Interest Rate Hike PredictionsBy Benzinga – Sep 17, 2022

Goldman Sachs Group Inc (NYSE: NYSE:GS) has cut its U.S. growth estimates for 2023 after the government recently boosted its predictions for Federal Reserve interest rate hikes,…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News