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Famous analyst warned investors: "ETH may not provide an opportunity!"
Cryptocurrency strategist Jason Pizzino made critical comments about Ethereum (ETH) in his latest video uploaded on his YouTube channel.
According to Pizzino, the average true range (ATR) of ETH, which is an indicator for the trading range of an asset over a certain period of time, signals an upcoming breakout. Despite the market being in a bearish trend, the analyst who is optimistic about Ethereum said the following:
"ETH looks quite good at the moment ATR may indicate that the market will move upward soon."
Ethereum (ETH) can suddenly rise
Pizzino, by saying that ETH's sudden rise could leave many investors behind, said that investors should pay attention to Ethereum's ATR as follows:
"Things are going crazy for Ethereum at this point; if you don't have ETH, it can ruin your portfolio because you are trying to buy and the exchange rate goes crazy before you can buy. For now, everything seems fine for Ethereum."
The analyst, who expressed positive views about the leader of the altcoins, naturally delighted his followers. The cryptocurrency market, which has been in a downward trend for a while, seems to have frustrated investors. However, Ethereum's weak stance and its continuous loss of value against BTC continue to confuse altcoin investors.
Ethereum, which is trading at a critical level both technically and psychologically, could see significant sales if it fails to break above $3500. Any time spent below $3000 will be dangerous for altcoins. Crypto investors are currently focused on the $3000-3500 range for ETH.
This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk and readers should conduct their own research when making decisions.