Top Crypto Analyst Warns Ethereum (ETH) Rally Likely To Fail This Month Heres Why

Justin Bennett, a popular crypto analyst, recently wrote that Ethereum (ethereum) is still going up because we believe cryptocurrencies are still in a bear market.

Bennett in a new YouTube video To tell His 11,200 subscribers expect ETH to hit new lows later this year as its charts flash bearish signals.

So the current Ethereum chart, as you can see, has carved out highs and lows since the July lows. Not really affected yet…

However, these two diagonals don’t look very healthy. This is a rising wedge and usually when we get a rising wedge inside a big downtrend like we have been doing lately. If we are still in a bear market, this is where this leads to buyer exhaustion and typically lower rotations.

Bennett said that holding the $1,810 support level for Ethereum will be key in the coming days. Analysts say he will look bearish if the price closes below $1,830.

ETH is trading at $1,883 at the time of writing. The second-largest crypto asset by market capitalization is down more than 1% over the past 24 hours.

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