Ether\u2019s Strong Bearish Movement<\/strong><\/h2>\nEthereum trades at its 42-month low against the world\u2019s top digital asset, which suggests a bearish momentum. Zooming out of the price chart, Ethereum is on a downward spiral and a painful market correction for holders and investors.<\/p>\n
According to Brandt, Ethereum\u2019s bearish sentiment will continue with no reassuring signs of reversal.<\/p>\n
\nInteresting to note that there was not a buy signal in $ETH<\/a>
\nIn fact, chart remains bearish with unmet target at 1551 pic.twitter.com\/sjkXyTQXU2<\/a><\/p>\n\u2014 Peter Brandt (@PeterLBrandt) October 31, 2024<\/a><\/p><\/blockquote>\nIn a Twitter\/X post, Brandt shared a graph saying there\u2019s no but signal for Ether. He added that Ethereum\u2019s chart is bearish, with the bulls making it difficult to hit the $1,551 target.<\/p>\n
![\"\"](\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/a_0d74ef.png?resize=1024%2C642\")
<\/p>\n
The 1-day-chart highlights the asset\u2019s continued bearish moment momentum that started last August, characterized by a descending channel. Ethereum\u2019s bearish flag is terrible news for traders and holders, suggesting a continued downtrend.<\/p>\n![](\"https:\/\/www.tradingview.com\/x\/XNyJEvfI\/\")
ETH is currently trading at $2,500. Chart: TradingView<\/a><\/figcaption><\/figure>\nAnalyst Sees Bearish Metrics For Ethereum<\/strong><\/h2>\nAside from the bearish signals on the graph, Brandt also noted a few discouraging metrics for Ethereum. For example, Ether has dropped by over 5% over the last 24 hours, registering a sharper decline than Solana, at -4.91%, and Bitcoin, at -3.87%.<\/p>\n
Also, Brandt noted that the ETH\/BTC trading ratio dipped to 0.03613, a 42-month low, as BTC continues to lead the broader crypto market. Although Ethereum is currently priced at $2,507, Brandt sees the asset dipping even further to $1,551, reflecting a possible 62% decline from its current value.<\/p>\n
$1,551 As Ethereum\u2019s Unmet Target<\/strong><\/h3>\nBrandt sees $1,551 as the asset\u2019s unmet target and a key milestone. In his analysis, this level serves as the holders\u2019 point of capitulation. The recent dips in price have affected investors’ and holders\u2019 confidence, with Ethereum struggling to sustain the $2,400 support.<\/p>\n
Interesting to note that there was not a buy signal in $ETH<\/a> \u2014 Peter Brandt (@PeterLBrandt) October 31, 2024<\/a><\/p><\/blockquote>\n In a Twitter\/X post, Brandt shared a graph saying there\u2019s no but signal for Ether. He added that Ethereum\u2019s chart is bearish, with the bulls making it difficult to hit the $1,551 target.<\/p>\n The 1-day-chart highlights the asset\u2019s continued bearish moment momentum that started last August, characterized by a descending channel. Ethereum\u2019s bearish flag is terrible news for traders and holders, suggesting a continued downtrend.<\/p>\n Aside from the bearish signals on the graph, Brandt also noted a few discouraging metrics for Ethereum. For example, Ether has dropped by over 5% over the last 24 hours, registering a sharper decline than Solana, at -4.91%, and Bitcoin, at -3.87%.<\/p>\n Also, Brandt noted that the ETH\/BTC trading ratio dipped to 0.03613, a 42-month low, as BTC continues to lead the broader crypto market. Although Ethereum is currently priced at $2,507, Brandt sees the asset dipping even further to $1,551, reflecting a possible 62% decline from its current value.<\/p>\n Brandt sees $1,551 as the asset\u2019s unmet target and a key milestone. In his analysis, this level serves as the holders\u2019 point of capitulation. The recent dips in price have affected investors’ and holders\u2019 confidence, with Ethereum struggling to sustain the $2,400 support.<\/p>\n
\nIn fact, chart remains bearish with unmet target at 1551 pic.twitter.com\/sjkXyTQXU2<\/a><\/p>\n<\/p>\nAnalyst Sees Bearish Metrics For Ethereum<\/strong><\/h2>\n
$1,551 As Ethereum\u2019s Unmet Target<\/strong><\/h3>\n