1100 dollars can come ethereum before the Reel Rallly, according to Benjamin Quinn – here is the reason
Famous encryption analyst Benjamin Quinn believes that the best digital prize can drown in value during the next few months.
In a new video on YouTube, COWEN informs its 896,000 subscribers that Bitcoin (BTC) can swing without the bull market support in August, which may decrease to a range of $ 64,000.
The bull market support is formed through the simple moving average for 20 weeks (SMA) and the SIA moving average for 21 weeks (EMA).
Cowen notes that BTC decreased below the band in August, September 2023 and July, as well as in August and September 2024.
The analyst predicts that if Bitcoin drops to this level, ETHEREUM (ETH) may decrease to approximately $ 1,000.
“I would like to claim that Ethereum may be at least $ 1100, because this is the place where the lower logarid decline bonding line, the final minimum before a large gathering occurred, was about $ 116-120 dollars -10 x, from 1100 to 1200 dollars.”
Quinn says the logarithm decline is designed to track the fair value of the asset using “non -distorted data”. The analyst also sees the possibility of the encryption market a real gathering in the fourth quarter of this year.
ETH is traded at $ 2,480 at the time of writing this report. The encryption assets have decreased secondly by the maximum market by more than 1 % in the past 24 hours.
BTC is trading at $ 102,536 at the time of this report and more than 1.5 % decreased last day.
https://www.youtube.com/watch?
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