Peter Schiff's red alert!
The chart of #ETH paints an “even more unsettling” scenario than that of #BTC and threatens to sink below $1,000
The well-known economist and longtime cryptocurrency critic, #PeterSchiff , has sounded the alarm, warning that the collapse will not be limited to Bitcoin: Ethereum's technical outlook is even more alarming.
According to the analysis shared alongside a monthly ETH/USD chart, Schiff warns that if the uptrend line around $1,600 breaks, the next critical support would be at the 2022 lows, below $1,000.
The economist concludes that if the 2022 floor is breached, the asset would enter critical territory with no significant technical support until it reaches the chart's lower blue line, signaling a deep decline for the market's second-largest crypto asset.
Do you agree with Peter Schiff's technical analysis, or do you think he underestimates the resilience of the #Ethereum ecosystem during bear market cycles?
$ETH
$BTC
$NVDAB
The chart of #ETH paints an “even more unsettling” scenario than that of #BTC and threatens to sink below $1,000
The well-known economist and longtime cryptocurrency critic, #PeterSchiff , has sounded the alarm, warning that the collapse will not be limited to Bitcoin: Ethereum's technical outlook is even more alarming.
According to the analysis shared alongside a monthly ETH/USD chart, Schiff warns that if the uptrend line around $1,600 breaks, the next critical support would be at the 2022 lows, below $1,000.
The economist concludes that if the 2022 floor is breached, the asset would enter critical territory with no significant technical support until it reaches the chart's lower blue line, signaling a deep decline for the market's second-largest crypto asset.
Do you agree with Peter Schiff's technical analysis, or do you think he underestimates the resilience of the #Ethereum ecosystem during bear market cycles?
$ETH
$BTC
$NVDAB
