Mark Newton, an analyst at Tom Lee’s fund, challenges prevailing community sentiment suggesting a crypto market peak based on technical indicators. He argues that current market conditions don’t align with this prediction:
– The Elliott Wave structure doesn’t indicate a market top.
– DeMark signals remain untriggered for monthly price trends.
– While sideways trading can weaken momentum and lead to negative MACD readings, it doesn’t confirm a sharp five-wave decline from the peak. This makes it difficult to draw definitive conclusions about a true peak.
Furthermore, the medium-term trend shows consistent upward movement since 2022. Additionally, market sentiment hasn’t reached levels typically seen in significant crypto peaks. It’s important to note that while Newton has historically provided accurate Ethereum predictions, his optimistic outlook on the market hasn’t been reflected in actual market performance.
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