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The price of the second digital currency Ethereum may fall, according to crypto analyst Ali Martinez. He saw a sell signal on the ETH/USD chart on the Coinbase exchange. However, he thinks that a “bullish breakout” is also possible; Here is what ETH needs to achieve this.

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Stop at $1600?

Martinez tweeted that the TD indicator system showed a sell signal on the daily ETH/USD chart. If approved, the analyst believes, the price of ETH may fall to the level of $1,283 or even up to $1,235. Even so, there is also a chance for a ring burst of the second largest mark. To achieve this, Ethereum needs to hold daily above the $1,355 level, according to Martinez’s tweet.

As of this writing, Ethereum is changing hands at $1,332 after rising less than 1% in the past 24 hours.

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Will Ethereum Lead This Year’s Crypto Market Rally?

A leading mining entrepreneur, Jiang Zhuoer, CEO of mining companies BTC.TOP and B.TOP, shared his opinion about what the future might look like in the crypto market as the year 2023 unfolds. . Jiang Zhuoer is excited about Ethereum’s prospects as Bitcoin.

He is interested in ETH because when the developers pushed Ethereum through the proof of work algorithm, he expects that the rate of increase of ETH will be only by 0.01% compared to it. i.e. 3.59% before the sale. Therefore, he expects ETH to start developing between March and May of this year, and he believes that this will happen before Bitcoin starts to rise.

However, not everyone is optimistic about ETH. Over the weekend, U.Today reported an anonymous whale betting that the price of ETH will fall to the $400 level by the end of June 2023. They bought 26,000 Ethereum put options in bulk at the stop price of $400. Some believe that these whales are expecting a lower price when the Shanghai promotion allows stakers to withdraw large amounts of ETH from Ethereum deposit contracts. 2.0.

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