Analyst Sees Crypto Pullback Looming as Ethereum Hits Resistance

After a major breakout across the crypto sector, one prominent market watcher is signaling that momentum may soon shift direction. By Lucas Nuzzi. Updated Apr 15, 2021.

A prominent crypto analyst is warning of a pending pullback in crypto prices as several key tokens hit resistance.

Crypto Capo, who boasts a large following on Telegram, signaled that much of the market now looks overheated—especially Ethereum (ETH/USD) and mid-cap altcoins, which have surged between 30% and 100% in a matter of days.

Bitcoin (BTC/USD) recently pushed as high as $97,800, while Ethereum touched the upper boundary of its anticipated resistance zone near $2,300.

But Crypto Capo believes ETH’s rally is losing steam, and he expects a reversal that could drag prices below $1,200 by June, based on technical patterns and historical behavior around key levels.

“We discussed $1,500 being a good buy zone, but I think the next move from here will be down. Still have some room for a higher high, but we know how this pattern usually continues.”

Solana (SOL/USD) is bucking the trend, however. Crypto Capo pointed out that SOL appears more resilient, adding that it’s now approaching the $170-$200 range and has been outperforming Bitcoin in recent sessions.

He expects Solana’s momentum to continue, further bolstered by strength in its broader ecosystem.

Crypto Capo, who said he has already secured partial profits from recent gains, advised caution as traders adjust to shifting market conditions.

“Don’t get greedy. Take partials and manage your risk. We never know what the market will throw at us next.”