Is Now the Right Time to Invest in Ethereum?
analysts online are bullish on #Ethereum (ETH), pointing to an attractive risk-reward scenario for potential investors.
Ari Martinez sees #ETH forming a promising upward channel on the weekly chart. He sees the risk/reward ratio favoring long positions, with stops set below $1,880 and a target price of $BTC According to Martinez's analysis, ETH is currently on the descending line of the ascending channel, which acts as a support line, and could soon challenge the upper boundary around $BTC Meanwhile, fellow trader Benjamin Cowan warns that based on past trends, Ethereum could fall to the logarithmic trend line, down to $BTC He noted that past cycles have shown that ETH often bottoms in Q4, and suggested that a return to that trend could occur within a few months. Cowan recalled similar patterns in 2016 and 2019, when ETH reached the bottom of a logarithmic corrective trendline and then bounced back.
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