On July 21, 2025, Peter Schiff, a well-known Bitcoin critic and gold advocate, posted on X. His tweet, garnering over 1.5 million views, immediately captured the crypto community's attention:
"Ether is back near the upper end of its trading range again. If you own any, this is a great time to sell. As much as it pains me to say, selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether."
While coming from a skeptic, this statement resonates with concerns from many analysts who point to potential bearish signals for the second-largest cryptocurrency. Several factors could contribute to a further decline in Ether's price in the near future.
Technical Analysis
From a technical analysis perspective, the outlook for Ether also appears concerning. Yesterday, July 21, on the daily timeframe, the RSI (Relative Strength Index) surged past 87%. Such a high RSI value frequently signals an overbought asset, indicating a strong likelihood of an imminent price correction or decline. Investors who rely on technical analysis might interpret this as a clear signal to take profits.
Concurrently, on the same daily timeframe, a "Bearish Evening Star" candlestick pattern formed. This three-candle pattern is considered a powerful bearish reversal signal. An "Evening Star" typically emerges after an uptrend, pointing to a potential start of a downward movement. The combination of an extremely high RSI and a bearish candlestick pattern significantly reinforces the probability of a decline in Ether's price in the immediate future.
"Ether is back near the upper end of its trading range again. If you own any, this is a great time to sell. As much as it pains me to say, selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether."
While coming from a skeptic, this statement resonates with concerns from many analysts who point to potential bearish signals for the second-largest cryptocurrency. Several factors could contribute to a further decline in Ether's price in the near future.
Technical Analysis
From a technical analysis perspective, the outlook for Ether also appears concerning. Yesterday, July 21, on the daily timeframe, the RSI (Relative Strength Index) surged past 87%. Such a high RSI value frequently signals an overbought asset, indicating a strong likelihood of an imminent price correction or decline. Investors who rely on technical analysis might interpret this as a clear signal to take profits.
Concurrently, on the same daily timeframe, a "Bearish Evening Star" candlestick pattern formed. This three-candle pattern is considered a powerful bearish reversal signal. An "Evening Star" typically emerges after an uptrend, pointing to a potential start of a downward movement. The combination of an extremely high RSI and a bearish candlestick pattern significantly reinforces the probability of a decline in Ether's price in the immediate future.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.