Ethereum Risks Slide To $2,000 If December Closes Below This Level: Analyst

A cryptocurrency analyst has explained where Ethereum could go next based on a long-term Parallel Channel forming in its monthly price chart. Ethereum Has Been Trading Inside A Parallel Channel For The Last Few Years In a new post on X, analyst Ali Martinez has talked about a long-term pattern that Ethereum has appeared to have been following for the last few years. The pattern in question is a “Parallel Channel” from technical analysis (TA), which forms whenever an asset’s price trades between two parallel trendlines. Related Reading: Bitcoin Could Be Sub-$50,000 By 2028 Without Quantum Fix, Warns Capriole Founder The upper level of a Parallel Channel is likely to facilitate top formations in the asset, while the lower one can act as a support boundary and allow the...