A closely followed crypto analyst says that Ethereum (ETH) will dip down to test its lower boundary before sparking a massive rally to the upside.
In a new strategy session, crypto trader Ali Martinez tells his 127,700 followers on the social media platform X that the second-largest digital asset’s best-case scenario has it testing the $2,300 level as support before skyrocketing 47% past $4,000.
However, Martinez notes that the leading smart contract platform by volume’s worst-case scenario could have it forming a double-top pattern, a bear flag that generally signals the end of a bull market.
“In the best-case scenario, Ethereum is range-bound, meaning it could test $2,300 support before rebounding toward $4,000. However, in the worst-case scenario, this could be shaping up as a double-top pattern.”
Martinez goes on to warn traders that altcoin season could be canceled this time around if…
