According to Crypto Money Analyst Ali Martinez, Ethereum $1,793.26Bitcoin 
$83,287.54 He entered into a remarkable technical formation. The analyst’s comments on monthly graphic analysis give a strong signal of decline in the Ethereum-bitcoin parity. Martinez said that a decline -oriented pattern, known as “double hill ,, emphasized that investors should be careful. Martinez’s analyzes are supported not only with technical indicators, but also with top -of -chain data. The recent movements of large investors in the Ethereum network reveal that the market has difficulty in gaining upward momentum.
Formation that attracts attention in Ethereum-bitcoin parity
The most important point Martinez draws attention is that Ethereum’s graph against Bitcoin is the formation of a binary peak formation. This model, which is analyzed on a monthly basis, is often interpreted as a harbinger of harsh decreases. According to the analyst, the current graphic structure shows that Ethereum may experience 91 %depreciation. If this decrease occurs, the value of Ethereum against Bitcoin may decrease to 0.0020 BTC levels.
This formation is also known as “M Formation ve in the technical analysis literature and indicates that the market is often preparing to change direction. In particular, the prolongation of such a model in the long -term graph may increase sales pressure among investors. Martinez states that this scenario is not only technical but also psychologically effective.
Ethereum’s weakening appearance against Bitcoin since the beginning of 2024 strengthens the basis of the analysis. Investors should be more careful about such graphic structures.
Sales loaded from whales, decrease in activity
On the Ethereum front, not only technical indicators, but also whale movements give anxious signals. According to Martinez’s analysis, a total of 760,000 ETH sales from large wallets have been sold in the last two weeks. The current market value of this amount reaches approximately 1.42 billion dollars. Such large sales may indicate that confidence in Ethereum is shaken in the short term.
In addition, according to the data over the chain, the ETH transfers, which are counted in the major trading category in the last five weeks, decreased by 63.8 %. This decrease suggests that there may be a decrease in interest in Ethereum throughout the market. Decrease in large procedures often indicate low liquidity and market stasis.
Martinez argues that this low activity level in the Ethereum network is not just a temporary situation, but a sign that market sensitivity is weakened. When the aggressive sales of whales and low trading volumes are combined, the likelihood that Ethereum may remain under price pressure is strengthened.
Critical resistance levels are followed for Bitcoin
Analyst, Bitcoin in his technical assessments drew attention to two important moving averages. Bitcoin’s 200 -day moving average is $ 86,200 and the 50 -day average is $ 88,300. These two levels stand out as a strong resistance point for the time being.
According to Martinez, if Bitcoin rises above these levels, a new rise in the crypto currency market may begin. However, if these points cannot be overcome, it is thought that a cautious stance throughout the market will continue. In particular, Ethereum’s weak appearance and low market activity are among the factors that suppress the overall atmosphere.
Bitcoin’s breaking these resistances can also contribute to the formation of positive signals in Altcoins such as Ethereum. However, according to the current table, it is important for investors to take steps especially without ignoring technical and over -chain data.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
