Ether could see the ‘biggest bear trap’ this month: Analysts
Analysts predict Ether could fall to the mid-$3,000 support zone in September before rocketing back in October, which could catch many traders off guard.
Ether may take a lot of bears by surprise next month, with a deepening correction in September that could completely “invalidate” by the time October comes around.
“It might look bearish at first, but if it plays out, it could be the biggest bear trap I’ve ever seen,” full-time crypto trader and analyst Johnny Woo said on Monday.
He added that the charts could paint a head-and-shoulders pattern in September “to spook everyone,” then invalidate it in “Uptober.” This would trap paper-handed traders, forcing them to buy higher.