Den Analyst Nicholas Merten enthüllt Ethereum Präisziel, seet ETH Huet Major 'Skeletten am Kleederschaf'

A popular analyst is issuing a dire warning to Ethereum (ETH) holders, saying that an epic collapse could be coming for the second-largest crypto by market cap.

In a new video, crypto strategist Nicholas Merten tells his 511,000 YouTube subscribers that Ethereum has major skeletons in the closet that could see ETH lose as much as 75% of its value from its current price of $1,220.

"Eis Zilbereich fir Ethereum ass iergendwou ronderëm $300 bis $500. Ech denken net datt et laang do wäert liewen, awer et huet mat der Tatsaach ze dinn datt et elo e grousse Skelett Kleederschaf ass deen iwwer $ 1.5 Milliarde u kumulative Liquidatiounen ass, déi potenziell an der DeFi geschéie kënnen [dezentraliséiert Finanzen] Ökosystem fir Ethereum. 

Merten shares a chart illustrating the liquidation levels of DeFi protocols in Ethereum. According to the crypto strategist, these protocols will trigger a massive sell-off event if ETH plunges to a certain level.

“If we start to get towards around $750 to $550, you’re going to start getting a cascading effect of sell-side pressure in the Ethereum market… If you want to look at it in terms of ETH, we’re talking about a million plus ETH that is at risk of leading us down and causing that additional sell-side pressure to quickly get from $750 and $550 for ETH’s price down to $300.”

According to Merten, a nosedive to $300 for ETH is comparable to Ethereum’s massive correction during the 2018 crypto bear market.

"Wa mir d'Geschicht widderhuelen, widderhuelen einfach d'Geschicht net emol mat der Makro-Ëmfeld, dat bréngt eis op $ 300 erof."  

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