Crypto Analyst Projects Lower ETH Price Before Rallying Upward

• Crypto Tony has predicted a pullback in Ethereum’s price before an anticipated rally.
• The analyst expects ETH to drop below the local low at $1,840 before rallying higher.
• At $1,904 ETH has gained 60.4% since the beginning of the year.

Crypto analyst and trader known on Twitter as Crypto Tony has predicted a pullback in Ethereum’s price before an anticipated rally. Tony explained that he was not in any long position on Ethereum to avoid being stopped out. However, he waits for a solid pullback to find a long entry.

$ETH / $USD – Update

Still not in a position on #Ethereum due to being stopped out. Ideally i want to get into a long position once we see a solid pullback pic.twitter.com/xRgqo4o7SZ

— Crypto Tony (@CryptoTony__) June 3, 2023

Tony explained his analysis using a 2-hour ETH/USD chart, identifying the key support and resistance areas. From his projection, he expects ETH to drop below the local low at $1,840 before rallying higher. Tony indicated the reason for expecting a drop ahead of the rally was a recent corrective move up. After that, there would be another leg down overall before the price continues upward.

ETH is trending sideways on…

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