Top Trader Issues Ethereum Alert, Warns of Potential ETH Flush Amid Signs of Weakness


A closely followed crypto strategist is issuing an alert to Ethereum (ETH) holders that they should be on the lookout for a possible corrective move.

Pseudonymous analyst Cred tells his 47,200 YouTube subscribers that Ethereum is currently struggling to take out a key resistance level on the monthly timeframe.

According to the crypto strategist, Ethereum’s current market structure makes it at risk for a quick pullback.

“If there’s a flush lower, I would look out for this triple higher low structure that makes it susceptible to some sort of poke or prod. I don’t like these very nicely stacked trendline-esque higher lows. So if there’s going to be any visible rejection from this monthly level [$1,678], I wouldn’t be terribly shocked if we saw some trading through those lows [below $1,600], especially given this pre-breakout consolidation has rather been messy.”

Source: Cred/YouTube

At time of writing, Ethereum is worth $1,673, still below Cred’s monthly resistance area.

As for Bitcoin (BTC), Cred explains why he believes the king crypto’s rally has…

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