Renowned Analyst Issues Warning About Ethereum: “Whales Are Watching This Level”

As selling pressure continues in the cryptocurrency market, market analyst Joao Wedson warned investors that the price of Ethereum (ETH) could fall to $1,200. Wedson stated that the short positions of large investors and the high risk of liquidation in the market are increasing the pressure on Ethereum. Joao Wedson stated that a drop in the Ethereum price to $1,200 would not be surprising, and explained the reasons behind this expectation. According to the analyst, large investors (whales) trading on various cryptocurrency exchanges are positioning themselves for further declines in the Ethereum price.