Trader Warns Ethereum Could See Another ‘Big Move Down’ Against Bitcoin, Updates Outlook on Dogecoin and Bonk

Popular crypto analyst Altcoin Sherpa is warning that Ethereum (ETH) may have a steep correction in its Bitcoin pair (ETH/BTC).

The pseudonymous trader tells his 233,100 followers on the social media platform X that ETH/BTC could decline more than 35% from its current value.

“ETH: I don’t know if this bottoms until 0.024 BTC ish, could be another big move down if BTC legs up past $100,000 strongly. Utter destruction.”

ETH/BTC is trading for 0.03768 BTC ($3,624) at time of writing, up 3.92% in the last 24 hours.

Next up, the analyst warns that the most popular memecoin by market cap Dogecoin (DOGE) may dip below the lower bound of a trading range to around $0.32.

“DOGE: deviation above the highs, now probably going to be a deviation below the lows. Still bullish on this one overall and even more so if BTC legs up.”

DOGE is trading for $0.40 at time of writing, up 4.9% in the last 24 hours.

Lastly, he says that he remains bullish on Solana (SOL)-based memecoin Bonk (BONK) but warns it may dip below $0.00003894 in the near term.

“BONK: I still hold a bag of this and some temporary cool down seems totally fine/healthy when zooming out. 0.50 fib and a bit lower are both reasonable spot to scale in (I’m in from higher and comfortable just dollar-cost averaging this one as an investment). Still holding for a while.”

BONK is trading for $0.00004361 at time of writing, up 2% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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