Trader Warns Ethereum Could See Another ‘Big Move Down’ Against Bitcoin, Updates Outlook on Dogecoin and Bonk
Popular crypto analyst Altcoin Sherpa is warning that Ethereum ( ETH ) may have a steep correction in its Bitcoin pair (ETH/ BTC ).
The pseudonymous trader tells his 233,100 followers on the social media platform X that ETH/BTC could decline more than 35% from its current value.
“ETH: I don’t know if this bottoms until 0.024 BTC ish, could be another big move down if BTC legs up past $100,000 strongly. Utter destruction.”
Source: Altcoin Sherpa/XETH/BTC is trading for 0.03768 BTC ($3,624) at time of writing, up 3.92% in the last 24 hours.
Next up, the analyst warns that the most popular memecoin by market cap Dogecoin ( DOGE ) may dip below the lower bound of a trading range to around $0.32.
“DOGE: deviation above the highs, now probably going to be a deviation below the lows. Still bullish on this one overall and even more so if BTC legs up.”
Source: Altcoin Sherpa/XDOGE is trading for $0.40 at time of writing, up 4.9% in the last 24 hours.
Lastly, he says that he remains bullish on Solana ( SOL )-based memecoin Bonk ( BONK ) but warns it may dip below $0.00003894 in the near term.
“BONK: I still hold a bag of this and some temporary cool down seems totally fine/healthy when zooming out. 0.50 fib and a bit lower are both reasonable spot to scale in (I’m in from higher and comfortable just dollar-cost averaging this one as an investment). Still holding for a while.”
Source: Altcoin Sherpa/XBONK is trading for $0.00004361 at time of writing, up 2% in the last 24 hours.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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