Warning from Altcoin Analyst: Ethereum, Pay Attention to This Level If It Cannot Hold at $3,000! - Coin Bulletin

Credible, an anonymous analyst known for his accurate predictions in the cryptocurrency market, believes that Ethereum is at a critical juncture at 3,000 dollarsETH(ETH).

According to the analyst, Ethereum is trying to form a bottom at this level and may start a new uptrend from here.

Credible, Ethereum bulls need to defend the $3,000 level, otherwise ETH could fall below $2,800.

"Here we are. The first of the two levels I think could form a bottom for ETH. We will see if it can hold here. If this level is lost, we can determine our long-term bottom by going down to the monthly demand zone below. Many coins are currently at critical levels.

According to the chart shared by the analyst, Ethereum can rise above $4,000 after bottoming out.

Does the Short-Term Decline in Bitcoin Indicate a Major Rally?

Credible sees Bitcoin's current correction not as a negative development, but as a healthy market movement. According to the analyst, BTC has been stuck in a certain price range for the past week and is now dropping to the lower limit of this range.

"BTC has only been going below the price range it has been trapped in for the past week, there is no need to panic. In fact, I am pleased with this drop because taking liquidity from the bottom first will strengthen the upward movement. We should keep our eyes on the lower regions - are we going to see just a liquidity cleanup or a bigger move?"

Analyst predicts that Bitcoin may experience a short-term rise, but after this movement, it may experience a decline once again. After this decline is completed, he believes that BTC may initiate a parabolic rally and reach $150,000.