Short

ETH Same Fate As TerraClassic? Macro Rising Wedge Target $8

Updated

ETH is looking weak guys. I think ETH will maybe have another small rally but in the macro I think ETH will dump hard out of this massive rising wedge. LUNA Classic did the same thing, and I even predicted the fall of Luna well before it ever happened when Luna was in the $80 dollar region. It far exceeded my expectations on how far it would drop but regardless the move happened. Now I think ETH is losing steam as well and this massive rising wedge is extremely dangerous and quite frankly ETH is very overvalued for what it is now. A centralized slow and expensive blockchain. Very overvalued in my opinion. ETH is about to move out of the way and make room for better, faster, cheaper projects. Good luck to everyone out there holding ETH. This is not trading or financial advice this is just my opinion. If you appreciate my work please give me a boost and follow for more updates on your favorite coins. Good luck and thank you all for checking out my charts.

This is my LUNA prediction from way back almost exactly a year ago today!

Luna still has one more drive to $70 before steep correction!

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Everyone holding Ethereum needs to be very weary. of this possibility. I know, I know, itll never happen, its too big, its too popular, its the future, blah blah. Listen I dont care what Ethereums path may be, the chart is the chart. No one though this would happen to Luna but look. Oh it was because of USTC blah blah. Show me the chart and Ill tell you the news, remember that. Who knows what comes in the future for Ethereum to make it drop this hard, it could be anything. I predicted Luna crash almost perfectly right before it happened, I didnt know what the reason was nor did I speculate. People called me insane, you should go check that chart out the comments are funny but sad. People got rekt and Im no fan of that. There is also dozens and dozens of coins that have done this same thing that were too big to fail over the years. Thats why I would be keeping a close on this. Eth has been stuck at the bottom of that rising wedge for a while. It may move to the uspide a little but I dont think it will amount to much other than a bull trap then a break to the downside of the wedge and a swift correction down to single digits. For that to happen whatever happens to Ethereum has to be detrimental to the network and Ethereum ceases, projects move off Ethereum and onto other chains that are Ethereum Virtual Machine Compatible. I dont know I made this chart for Eth a while back and Im sticking with it, I think this is going to play out unfortunately. I hope not but I believe the crash will happen when the the amount of staked Eth plateaus in relation to Eth being unstaked or starting to decline slightly. Thats the only way to maximize the profits by preventing everyone else from selling so you can dump your coins right at the perfect time, whoever that entity may be if any. By the time the poor bastards get their Eth unstaked, Eth will be $10 or lower. Good luck out there, it is a jungle dont forget. This is by no means financial advice this is just my opinion, you need to do your own research and make decisions based on what is best for you not what someone else thinks

Trade active

Trade is still active. Ethereum block chain is slowly dying. Projects are moving over to other chains. Volume has declined. Just in one day trading volume is down by 50%. I cant find a chart to show the volume of the ETH chain to show how its been declining. Less people are using Ethereum. When projects on Ethereum realize they can get more investors on a better chain they will move. Its a domino effect. A trickle to a flood is how that works.

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cmplord, Im just pointing out how this is possible Daily Eth is losing popularity to other more affordable chains. Eth was a bubble, now theres a new bubble in town and better chains. You see ETH is easily replaceable because its just a company so what makes it any different than in the brick and mortar world? Look at all the old companies from the 50s that thought they were king shlt on turd island. They eventually died out to more efficient companies that had a better product. Its capitalism, in the crypto market. Plus what better time to rug than when everyone's coins are locked up in staking for 10 days minimum and by then ETH could be down 50% or more then its a waterfall. All it takes is for a few big boys to start unloading and its all over. The ETH blockchain was great and it was the gateway for so many new projects over the years being the first one to offer a platform where projects could build on. Now those projects are overtaking ETH. Humans are patient but not stupid. If Ethereum doesnt drop fees and somehow restructure its greedy algorithm so the average person can use it without paying ridiculous fees then its a goner 1000%. I actually think its too late for ETH at this point. 99% of the dapps on Eth are trash anyways so its not like a real world catastrophe would take place if they were to disappear. The few winners would either migrate or create their own chain and life moves on.

I would like to actually hear a detailed reason as to why this cannot or will not happen in your opinion. You seem to be so sure and I just want to know if Im missing something.

Its going to happen 100% in my opinion. I am confident in this analysis.

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ETH HAS BEEN SERVED BY THE SEC! GOOD BYE ETHEREUM!

Hello everyone. Just as I thought something big was going to happen well here it is. SEC is going after Ethereum. A lawsuit by the SEC has possibly already been filed. If you need a better explanation please watch the video by Bitcoin University on youtube that just came out, he explains it fully and why he believes they have already been served already has 20k views. This would be a perfect catalyst to make ETH drop to way low prices over the next many years during the lawsuit. Look what happened to XRP and multiply that x10.

Oh boy this is going to be epic. Once ETH loses and is deemed a security because it simply is theres no way around it. ETH is going to TANK mark my words people. I called this years ago. I knew this would happen but I was called crazy. We'll see who the crazy one is at the end of this. Do you realize how much money the SEC is about to make. This is why Bitcoin, Litecoin and a couple others are going to go to such crazy numbers no one would ever imagine. The whole shltcoin market is about to drain into the real decentralized crypto commodities.

THE ONLY NON SECURITIES IN ALL OF CRYPTO RIGHT NOW IS BITCOIN, LITECOIN, DOGE, AND BITCOIN CASH.

There may be others like Feathercoin, or Namecoin from the early days but they are dead chains.

Isn't it funny how Charlie Lee stepped down from Litecoin just at the right time right before securities regulations? I Hmm and Digibyte founder Jared Tate just did the same thing, hmmm? All these decentralized mined cryptocurrencies from the early days that all these people called dinosaurs could actually rise up again and become the top 5? No way right? Wrong its happening but most of you were too blind to see it. Maybe youll see it now or maybe you learn lessons the hard way and you lose all your money.

Once this thing starts to fall its going to be a waterfall youll never get out of your staking in time.

If ETH is a security then SOLANA is BNB all of them, its all over for all these shlt coin scams like DogWifShlt and all the other trash all these fools are buying. Coinmarketcap will be half of one page you'll see. The rest will be archived for future reference and so people can have a good laugh at what people actually invested in! Dont be a fool and hold to zero, I would get to the exits and into something safe ASAP or you may gut stuck in the burning building cause the exits are jammed. Im not biased I just know whats coming and I dont want to see you all lose money, I hate it when people lose money.

Not financial advice just my opinion!

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ChatGPT

If Ethereum were found to be an unregistered security by the U.S. Securities and Exchange Commission (SEC), it could lead to various consequences, both for the Ethereum network itself and for the broader cryptocurrency ecosystem:

Regulatory Actions: The SEC could take enforcement actions against the creators and developers of Ethereum, as well as exchanges and other platforms that facilitate trading in Ethereum. This could include fines, penalties, and other regulatory measures.

Legal Proceedings: There might be legal proceedings initiated by investors or other parties who claim to have been harmed by the sale or promotion of Ethereum as an unregistered security. This could lead to lawsuits and court judgments against individuals or entities associated with Ethereum.

Market Impact: A determination that Ethereum is an unregistered security could have a significant impact on its market value and liquidity. Exchanges may be required to delist or restrict trading in Ethereum, and investors may sell off their holdings in response to regulatory uncertainty.

Compliance Efforts: If Ethereum were deemed a security, its creators and developers would likely need to take steps to comply with securities regulations, such as registering with the SEC and providing disclosure documents to investors. This could involve significant legal and administrative costs.

Impact on Other Cryptocurrencies: A finding that Ethereum is an unregistered security could have broader implications for other cryptocurrencies and token projects. It could lead to increased regulatory scrutiny and enforcement actions across the cryptocurrency industry.

Potential Forks or Changes: Depending on the response from the Ethereum community and developers, there could be attempts to modify the Ethereum protocol or create forks to address regulatory concerns. However, this would likely be a complex and contentious process.

Overall, a determination by the SEC that Ethereum is an unregistered security would have far-reaching implications for the cryptocurrency ecosystem and could fundamentally alter the regulatory landscape for digital assets.

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THE LAWSUITS HAVE ALREADY BEEN FILED YOU CAN GO SEE THEM. ITS NOT A THEORY. WAKE THE FUQ UP. THIS IS THE SAME SHlT PEOPLE WERE SAYING WITH THE INITIAL LAWSUIT AGAINST RIPPLE NO ONE THOUGHT IT WAS A BIG DEAL UNTIL IT WAS.

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Hello everyone. So Grayscale looks to be offloading some ETH and ETC over the last 30 days. Also there is a 25% discount on ETH and a 40% discount on ETC. The others Litecoin, Bitcoin Cash, and Sol all have premiums. Big premiums. So why do you think that is if everyone is so bullish on ETH and ETH is going to be amazing. Real investors like the ones with real money, not these little kids in here insulting me cause they got their piggy bank $1000 bucks in ETH ,but big money isnt buying ETH. They are selling. The ETH grayscale trust is a great indication of how ETH and others are doing in the eyes of institutional investors and big money investors.

Investors wont even buy ETH grayscale at a 20% discount while the others are trading at 300-500% premiums right now and the real parabolic bull run hasn't started. Also Grayscale has sold ETH and bought a lot more Litecoin, BCH and SOL. Why do you think that is?

Maybe, just maybe these folks with the real money can see whats going on and can read the writing on the wall. If you think you're smarter than these folks then more power to you but if you follow smart money then you need to pay attention to what they are doing or you're going to get fleeced.

Ethereum was a money grab and now there might even be one more big money grab with the fork coming and you'll all be left holding worthless bags of both and you'll have to pay taxes on your airdrop to boot at the price it was when it was dropped not when you sold it.

Good luck! Non of this is financial advice its just my opinion.

Bitgolder

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