A popular on-chain strategist says Ethereum (ETH) is showing a great risk-reward ratio setup.
Analyst Ali Martinez tells his 76,900 followers on the social media platform X that ETH appears to be forming a bullish ascending channel on the weekly timeframe.
“The risk-to-reward ratio on Ethereum is too good to pass up for a long position! I’ve set my stop below $1,880 and am aiming for a target of $6,000.”
Looking at his chart, the analyst suggests ETH is holding the bottom trend line of the ascending channel as support and could soon re-test the upper bound at around $6,100.
However, fellow crypto trader Benjamin Cowen tells his 819,000 YouTube subscribers that based on a historic pattern of Ethereum bottoming out during the fourth quarter, he’s anticipating ETH drops to its logarithmic trendline, potentially as low as $1,000.
“When I look at the cycle, I see ETH at $2,400 and I just think…
