Analyst Nicholas Merten Warns of Altcoin Cleansing, Says Ethereum (ETH) Facing Another Leg DownJanuary 05, 2023 6753 by admin
A popular investment analyst warns that Etherum is facing another round of decline, while valuations of companies in many alternative currencies will fall sharply.
At a new YouTube countermeasure conference, login password investment analyst Nicholas Merten told its 512000 users that the Ethernet was on a downward trend, and moving the 200-week moving average once again turned into friction.->
Even if we look at the ratio of ETH to BTC, Etherum's rate for bitcoin has been relatively neutral since May 2021, but it is still on a downward trend.... For us, this data chart soon gradually decreased.
The Etherum market is well below the 200-day moving average and the 200-week moving average. Since the collapse of FTX in November 2022, people have been following this section. Since then, people have been repeating the way they did in June, in which the 200-week moving average gradually turned into friction resistance.
He warns that a rebound is not sustainable unless the ether moves its 200-week moving average and trades at 15 or 30 per cent of the discount rate between about $1470 and $1668 in total demand. At the time of writing, the ether was transferred at a price of US $1253.
"Today, I would like to make it clear here that any way of rebound or elevation cannot be ignored. I think this will be friction resistance, not to mention because the 200 wireless antennas are very close in such a range, until we can go beyond this section to support this index value, it must be interesting for me, still bullish.
Merten warns that in the current industry environment, other alternative currencies may collapse, saying they are exaggerated.
When we mention the calculation of the alternative currency, the discussion refers to the wider login password indoor space, where there are a lot of untrue company valuations and a lot of unreal expectations, that is, many people in this name will remain here in the next year or two.
If you, like me, have been here since 2016, actively investing in and paying for passwords in 2017, you have already gone through one or two market cycles, and you may remember that many of the great alternative currencies that make up the list of maximum use value login passwords are no longer here. They are all relics of the past. Lessons learned or lessons learned are still not learned by many investors. Unfortunately, many of the alternative coins here today will not be here.