Bitmine Immersion Technologies Inc. (NYSE:BMNR) Chair Tom Lee flagged on Monday veteran trader Peter Brandt’s Ethereum (CRYPTO: ETH) analysis, hinting at the end of the second-largest cryptocurrency’s downtrend.
A Short-Term Bottom For ETH?
Brandt, a technical analyst with nearly 50 years of experience, spotted Ethereum forming a short-term bottom at a “historical” long-term support level, around the $1,800–$2,200 area.
Quoting the analysis, Lee said, “Peter is known for his patience and discipline. To me, its signal that he is highlighting ETH.”
What Are The Signals To Watch?
Ali Martinez, another well-known cryptocurrency trader and commentator, had something similar to say.
“Ethereum just signaled the end …