The ETHEREUM Stock Market can pull more before Rally Trend Counter, according to analyst Benjamin Quinn.
Benjamin Quinn cryptocurrency analyst warns that the stock market may cause ETHEREUM (ETH) to low price levels.
In a new strategic session, Queen Recount Its 889,000 subscribers in YouTube may show the weak S&P 500 in April, which may lead, based on the historical precedence, to a decrease in ETH as well.
“What I wonder is what is happening if you see that the S&P 500 continues to show weakness early to mid -April? Remember, we have said that there will be weakness in the stock market between Opex in February (week’s option expiration week) and March Obix.
The reasons for this may be due to the uncertainty on April 2. It may also be the case, there are a lot of macro data that goes out early to mid -April and I think the markets will be interested in. One of the reasons why markets are interested in it because with all this tariff, it may have an effect on inflation. ”
Queen says ETH may decrease to the logarithmic trend line, which is likely to be low to $ 1044, amid stagnation pressure, before restoring $ 3,000 in support.
“I just look here at ETH/USD [on the weekly chart]And I see a triple summit, and I just have to wonder whether it is crowning this in the end of stagnation, as everyone thinks that by the time when the recession is announced, but the reality is that the market was dropping it early, so that you get this great decline and then a great move from it. We talked about it for a while, which is the full idea that ETH returns home. “
ETH is trading for $ 1909 at the time of writing this report, an increase of 4.7 % in the past 24 hours.
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