A prominent crypto analyst is raising concerns about the current state of the cryptocurrency market, suggesting that further corrections may be on the horizon. Kaleo, a well-known figure in the crypto community, recently shared his thoughts with his large following on X, warning that significant rallies may not be seen until digital assets hit lower price points.
In a recent post, Kaleo stated, “Still think there’s a chance we see a little bit lower across the board before we start ripping again. Just appreciate the calm that’s here while it lasts. When we do start moving up again, it’ll be violent. Up only takes a lot more energy than any other phase of the market. Plan accordingly before it’s back.”
Other analysts have also chimed in with similar bearish predictions for the near future. Justin Bennett, a widely followed crypto analyst, shared his thoughts with his followers on X, suggesting that the market correction could continue until early next year. Bennett pointed to a chart showing resistance levels for Ethereum (ETH) and indicated that a bottom may not be reached until 2025.
Ethereum is currently trading at $3,367, down 2.8% in the last 24 hours. Rekt Capital, another respected analyst in the space, echoed similar sentiments regarding Bitcoin, noting that the recent Christmas rally may have been short-lived. Rekt Capital highlighted that previous support levels are now acting as resistance, indicating a potential revisit to lower price levels.
Bitcoin is currently trading at $95,945, down 2.9% in the last 24 hours. As the crypto market continues to navigate through uncertain waters, it is important for investors to stay informed and prepared for potential fluctuations. Keeping a close eye on market trends and expert insights can help individuals make informed decisions during times of volatility.
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