Ethereum Price Warning by Jason Pizzino

Cryptocurrency analyst and trader Jason Pizzino warns that Ethereum (ETH) may plummet in value for one main reason.

In a new video, Pizzino tells his 349,000 YouTube subscribers that ETH may decline by more than 47% from its current value after the top altcoin appears to have formed a bearish double-top pattern on the weekly chart.

A double-top pattern is considered a bearish indicator by technical analysts, suggesting that bulls lack the strength to drive the price of the crypto asset higher.

> “It’s really looking very, very weak here and like it wants to continue to fill in the gap of this price range, somewhere between $1,600-$1,700 and basically where it is now, around $2,100. If you start to see a breakdown of these lows, you’re probably going to come back and test this range, if not the lower range at $1,500 to $1,600. So really not great stuff there for ETH.”
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> “I’ve mentioned before these two other price targets: $1,300 and $1,200, $1,166 – that’s basically your 150% off the double top, which I’ve shown has happened many times across multiple different assets: Bitcoin, the S&P 500, and stocks. It’s happened on basically everything.”

Source: Jason Pizzino/YouTube

ETH is trading for $2,231 at the time of writing, up 2.4% in the last 24 hours.

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