Legendary Trader Peter Brandt Issues Crucial Warning as Ethereum Price Eyes a Drop

Legendary Trader Peter Brandt Issues Crucial Warning as Ethereum Price Eyes a Drop

Legendary merchant Peter Brandt has recently updated its outlook on the Ethereum (ETH) price chart, highlighting a worrying pattern. Therefore, Brandt has identified a controversial top head and shoulders formation, which is normally considered a bearish indicator, suggesting that the price could fall soon.

Legendary merchant Peter Brandt has recently updated its outlook on the Ethereum (ETH) price chart, highlighting a worrying pattern. Therefore, Brandt has identified a controversial top head and shoulders formation, which is normally considered a bearish indicator, suggesting that the price could fall soon.

Advertisement

This pattern usually indicates a reversal from an uptrend to a downtrend, often resulting in a significant price drop.

Related

Tue, 06/11/2024 – 10:55
Ethereum (ETH) Faces Bearish Phase as Futures Traders Sell Aggressively
HOT Stories
Shiba Inu (SHIB) Holders Receive Critical Warning in Telegram, Here's Why
Shiba Inu (SHIB) Holders Receive Critical Warning in Telegram, Here’s Why
Ripple CEO Backs XRP Community Amid Big Event: Details
Bitcoin (BTC) suddenly recovers $69,000. This is why
SHIB, FLOKI, WIF, BRETT: Meme Coin Bloodbath Continues

Despite identifying this bearish pattern, Brandt emphasized that he is not short of cryptocurrencies. This is particularly interesting given that just a month ago, in early May, Brandt announced that he was officially short Ethereum futures.

However, at the time he made it clear that he refrained from short selling in the spot market due to counterparty risk and always uses stop-loss orders to manage his risk.

Brandt’s current stance appears to be a change from his previous position. While he now signals a possible bearish trend, the price of ETH has continued to rise. Currently trading at $3,500, the altcoin has seen a significant increase from its price a month ago, when it was trading below $2,900.

Related

Tue, 06/11/2024 – 13:22
Polygon eclipses Ethereum in key network metrics

The top head and shoulders pattern highlighted by Brandt could be a critical warning for traders and investors. If the pattern holds, Ethereum price could see a drop in the near future. However, recent market behavior suggests a complex scenario, where traditional chart patterns and market sentiment are not entirely in sync.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة