A popular crypto analyst gives predictions for Ethereum (ETH)Avalanche (AVAX) and Polka dot (DOT)since the correction in the digital asset market continues.
In a new video, pseudonymous analyst Cheds tells his 45,700 subscribers about this leading smart contract platform Ethereum could fall below $2,000 as the price of (BTC) threatens to further weigh on the market.
“If you look at that, you can see that it’s a great move, the kind that’s gotten a little bit off the skis and will probably come back lower. I’m much more interested in around $1,800 for a trade, $1,800 to $2,000. I think it will probably go down because I think Bitcoin is going down, but if I didn’t think Bitcoin was going down I would still be looking at the chart and thinking this chart is going down. “
He says the market correction is also causing Ethereum challenger Avalanche to dismantle. According to Cheds, AVAX currently looks poised for further bearish price action.
“This is not good. I mean at least it looks like you’re probably testing low 50s to probably break them… you’ve got the downside action and you’ve got the kind of rising channel and a break out of the channel. Simplify your thinking: This is what you have: you have a move, you have a consolidation, and then maybe a pause and a continuation of that. It does not look good.”
Looking to the interoperable Blockchain Polkadot Analyst says DOT is in mega downtrend. He says DOT is preparing for another significant drop below the current price of $15.46.
“The momentum here is like a mega down. This is a really strong sell signal, a short signal. You have to detach yourself from why you think you are in the trade…you see it in the price. You see the momentum. This is like a nine out of 10, 10 out of 10 sell or short signal on DOT. Doesn’t look so good.”
Check the price action
Source: Crypto News Deutsch