A prominent market analyst is sounding the alarm for Ethereum investors, urging them to offload their holdings by the end of October as the altcoin's current bullish run is expected to culminate in a sharp correction. This advisory comes amid a period of significant upward momentum for the crypto market, with Ethereum recently surpassing and holding a key support level above $4,200.
Market expert Orbion, currently bullish on Ethereum, predicts a final, vigorous surge for the asset, targeting a price range of $5,800 to $6,000. This potential peak represents a 300% gain from the cycle's lows, showcasing the dramatic rally that has characterized this market cycle. However, Orbion’s analysis is a strategic warning rather than a bearish outlook, drawing on historical market behavior where "every cycle ends in a fast and brutal manner."
The analyst projects that following this anticipated peak, Ethereum could experience a significant post-peak correction, potentially plummeting back to the $1,400 level. This drastic downturn is forecasted to occur by the end of October, aligning with a broader market top that could see Bitcoin peak in late September. Orbion’s counsel underscores the critical need for investors to pre-plan their exit strategies, noting that market momentum can vanish abruptly, leading to widespread panic selling.
To support his thesis, Orbion points to key on-chain metrics such as NUPL (Net Unrealized Profit/Loss), SOPR (Spent Output Profit Ratio), and MVRV (Market Value to Realized Value), which have historically served as reliable indicators of market tops. Furthermore, the analyst suggests that an expected Fed rate cut in September could act as a catalyst for this final, high-speed rally. This event is expected to spur a quick, intense rally lasting weeks, not months, which highlights the urgency of his sell recommendation and the short window for investors to act.
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