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Ethereum is doomed in its wall Street's Fault but what is the next move for Ethereum is this a life-changing Opportunity or is this coin going even Lower cuz Wall Street is rejecting it Does that mean you should reject it I'm Your host Dey we're going to look at What the heck is going on here cuz Ethereum is actually one of the biggest Losers in the entire crypto market cap It is down over 6% it has been a very Bloody weekend for ethereum but what are The next levels and why is Wall Street Rejecting what are you talking about Dy They're rejecting it well folks it is The ETFs is the culprit here the ETF Flows are now at an all-time low meaning They have an ethereum ETF product There's a Wall Street product you can Buy where you can have exposure to Ethereum and they're dumping it because They're selling the grayscale Futures Base that have been converted to spot e Now sounds like a lot of mumbo jumbo but Let's just say Wall Street is not buying Any of these ethereum ETFs and they've Been selling them to the tune of $562 Million worth of outflow now is Good to have an ETF but if there's no Demand then these issuers will start to Close down the product meaning these Issuers these Wall Street banks will no Longer sell ethereum ETFs folks this Post was from yesterday fast forward to
Today and what did I see breaking news From Kyle chassis here vanak just Cancelled their eth Futures ETFs now What does this mean is it doomed what is The next level we're going to be Answering that but what let's look into Vanek deciding to liquidate what does This actually mean here well complete Abandonment of these ETFs that is right This is bad news it is thought that the Company may have made a decision due to Not receiving certain returns and Whether this decision will expand Remains a matter of curiosity so they Are actually cancelling their futur Bas ETF they still have this spot-based ETFs Now remember folks when the news first Emerged that we're going to have a spot Ethereum ETF eth was close to $4,000 and When you look right now you know Hovering around this $2,200 level very Very close to $2,000 it is not where we Want to be now when we look at the max Chart you can see we have not even come Close to our previous all-time high we Were pretty close to $5,000 around 4,800 And we barely broke above 4,000 and this Was in March when Bitcoin was very Bullish so you might be feeling very Bearish on your ethereum bags maybe you Got an old bag maybe You' been sitting On it for a while maybe you're wondering When is this bag going to pump is it Going to pump well Ryan Sean Adams has
Some advice for you he is definitely Known as an eth maxi here and he says he Has seen eth sentiment this bad three Times before 2016 it was after a dow Hack and they said smart contracts will Never work and tokens were going to be The killer app very bearish on eth at The time then in 2019 the two years of Bleeding meaning they had two years of Losing value against Bitcoin and they Said ethereum was a worthless gas token But defi was building and then fast Forward to today this is the third time You' seen a this bearish 2024 a half Cycle of underperformance again meaning It hasard perform nearly as well as Bitcoin and they're saying eth's old Tech and l2s or parasitic meaning the Layers building on top of ethereum are Taking some of the attention and taking Some of the money but ethereum is on the Cusp of becoming a Federated Union of Chains it is once again unpopular to Believe eth is money this is a lovely Opportunity contrarian bullish is how You earn the gains that is right folks It pays to be right when others are bet Against you it doesn't really pay to be Right when everybody's agreeing with it So everybody likes Bitcoin well there's Not that many gains to be had with Bitcoin but if everyone's dumping on eth There is opportunity with eth now I Promise you we're going to look at the
Charts look at the next levels I want to Give a big shout out to uh NES roila uh For putting this on my radar he's a Crypto Trader and Market researcher here So let's go into the charts we're going To be looking at this bullish triangle On the daily chart but I'm going to be Looking at the 4H hour so we're zoomed In a little bit here here and folks you Can see we hit the bottoms of this line So when we zoom out to the weekly you Can see this is a very long Trend this Is going all the way back to 2020 and so We've been just bouncing along this line Let's go back to the 4our you can see Right now we're on the cusp of holding On for dear life so eth is definitely at A make or break moment but I am Predicting that I think it's just more Likely than not eth is going to break to The upside when we go back you can see They have tested this line several times In the past this is uh June 22 it hit Again around November 22 and we recently Hit it in October 23 and then we Recently just touched on it again now This keeps acting as support I'm just Going to say I think it's going to keep Acting as support but what does the move Look like to the upside I think these Are the gains that you can expect with Ethereum so if you buy now at these Bargain basing levels what kind of Upside are you looking at how about a
72% pump I do think there's going to be You know maybe some Faster Horses but I Don't think there's that many coins Where if everything hits the fan I can't Think it's going to go too much lower And sure I think Bitcoin could go to a Lower level and I think eth could go to A lower level but with Bitcoin and eth When it goes to a lower level you're Looking at a 10 20% draw down maybe 30% Some of those altcoins are going to fall 70 80 90% And so while Bitcoin and eth Fall 10 20% some of your favorite coins Are going to fall a lot harder than that So eth you know the upside might only be 75% the downside is going to be a lot Smaller as well so it's just a little Bit of a relative ly safer bet in the Crypto Market compared to a small cap Altcoin but I don't want to just give You the upside potential here I also got To tell you the downside potential if we Head to a lower level I think there's Going to be an important level of Support and it's just going to be Actually this previous Wick right here When we draw out a horizontal line right Here at this level you're going to see We've hit against this level previous uh In the past and to me this is just kind Of looking uh pretty important and you Can just see it's been important in the Past probably going to be important in The future so I would just look you know
Another uh you know1 $150 to the Downside probably close to what you're Looking at here now that's only a little Bit to the downside there's got to be a Scarier level right well this is where It gets real scary folks if we fall Below 2,100 you know $22,000 is going to Be a psychological level but folks it Can drop a lot farther than that you Know I would be looking at you know Maybe maybe $11,000 is going to be the Next level of support you can see it was Very important around here uh very Important around here eth does like to Bounce around $1,000 so that's what I Would be looking at here not only that It was pretty close to where it got Rejected in the 2017 2018 bull run now I Don't think is going to fall to 1,000 if We lose $2,000 as support but these are Some of the scary scenarios you got to Prepare for and so you have that dry Powder on the sidelines well folks That's my eth prediction for you I do Think we are going to break to the Upside before we go to the downside here That is very strong support and so you Could be looking at a 75% pump in the Short terms here that's what I got and Hopefully I'll see you in your eth bag Don't get shaken out so I can see you at The top
