Analyst at Tom Lee's Fund: Cryptocurrency Has Not Yet Peaked

ChainCatcher news, Fundstrat Technical Strategy Director Mark Newton CMT posted on X stating that he disagrees with the view that cryptocurrencies have peaked, and listed five reasons:

1. The Elliott Wave structure does not show signs of peaking;
2. The monthly DeMark signal is not yet in place;
3. The MACD indicator turning negative due to sideways consolidation is not decisive;
4. The medium-term upward trend since 2022 has not been broken;
5. Market sentiment is far from reaching the levels that typically mark a meaningful market peak.

He added that he is watching for signals confirming that ETH and BTC prices have bottomed.