Analyst Issues Ethereum Alert Predicts ETH Could Drop 26 From Current LevelsHeres Their Target

Coin World Report:
A closely watched cryptocurrency analyst is warning investors that the smart contract platform Ethereum (ETH) could plummet by 26%.
Pseudonymous crypto strategist Credible Crypto told his 402,300 followers on social media platform X that the top altcoin may not have found its market bottom yet.
The analyst observed ETH’s open interest (OI), an index that tracks the total number of outstanding derivative contracts for a particular asset, and believes that despite Thursday’s price crash, the index remains in accumulation mode.
“When we look at OI from a coin perspective (as below), we can see that the significant rise in positioning has actually not happened yet. OI has only declined in terms of currency as the price has dropped.
The real positioning flush may occur a bit lower. My bet is on a bottom between $2200 and $2700. When we enter this region, watch for a rise in OI (in terms of coins).”
Source: Credible Crypto/X
At the time of writing, Ethereum is trading at $3,002, down over 4% in the past 24 hours.
The analyst also warns that the price of the meme coin Pepe (Pepe) could crash.
“PEPE appears to have completed a deviation at the range highs and found acceptance within the range. It is now targeting the range lows, and actually below the range lows… some alts are getting hit harder than others.
For alts like PEPE with a lot of open space, the lowest downside target is the low 30%-40% (PEPE’s range low), and possibly down 60%-70% (from PEPE’s range low breakdown) before its larger correction is complete. For other alts that have already been beaten to a pulp, 30%-40% may be the max drop (and in some cases even smaller).”
Source: Credible Crypto/X
From his chart, the trader believes Pepe could fall below $0.00000400.
At the time of writing, Pepe is trading at $0.000008656, down 7.5% in the past 24 hours.
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