Crypto analyst Ali Martinez highlighted that Ethereum 
$2,071 is precariously close to a significant support level. He stated that if this support fails, Ethereum could experience a price drop of approximately 39%.
Ethereum Analysis
Martinez noted that Ethereum is near the lower trend line of a rising channel formation on the 12-hour time frame. While this formation typically signals positive momentum, a break below the lower line could lead to a negative reversal. If the support around the $2,500 mark holds, significant price increases for Ethereum could be anticipated.
Ali Martinez: “If Ethereum stays above $2,500, it could rise to $4,000 or $6,000.”
Avalanche Evaluation
The analyst applied similar technical analysis approaches for Avalanche. He indicated that if the lower trend line of Avalanche’s symmetrical triangle formation breaks, the token‘s price could decline by about 22%. This assessment points to the short-term movements of two distinct digital assets.
Martinez emphasized the need for close monitoring of technical support and resistance levels for both Ethereum and Avalanche. High trading volumes and market dynamics suggest that sudden price movements could occur for these assets. The signals emerging from graphic analyses may lead investors to exercise caution.
Observations, technological advancements, and market dynamics serve as essential guidance for investors. These analyses offer valuable insights to prepare for fluctuations in the market.
