The recent warning from top crypto analysts has sent shockwaves through the cryptocurrency market, with many investors bracing for a potential further correction in prices. Kaleo, a well-known crypto trader, has cautioned his followers that significant rallies may not be on the immediate horizon for Bitcoin and other digital assets. He suggests that lower prices may need to be hit before any major upward movement can occur.
Similarly, Justin Bennett, another prominent analyst, has echoed these sentiments, predicting that the crypto market correction could extend into early next year. He points to Ethereum’s recent struggles with weekly resistance levels as a sign that lower prices may be in store for the market. Ethereum is currently trading at $3,367, reflecting a 2.8% decline in the last 24 hours.
Rekt Capital, yet another respected analyst, has also expressed concerns about Bitcoin’s recent price action. He believes that the Christmas rally may have been short-lived, with previous support levels now acting as resistance. Bitcoin is currently trading at $95,945, down 2.9% in the last 24 hours.
As the market braces for a potential downturn, investors are urged to stay vigilant and plan accordingly. The analysts’ warnings serve as a reminder that volatility in the crypto market can lead to abrupt price movements. It is essential for investors to closely monitor price action and stay informed about market trends.
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