As a seasoned crypto investor with a decade of experience under my belt, I’ve seen more market swings than a playground sees children. The insights shared by CrediBULL Crypto, Cousin Crypto, and Poseidon on Ethereum are certainly intriguing.
As a dedicated researcher in the field of cryptocurrencies, I’ve been closely following the insights of CrediBULL Crypto. Their analysis suggests that Ethereum, the second-largest crypto token by market cap, could potentially reach $3,000 in the future. However, they also caution that a significant drop or crash may occur before this bullish trend takes place.
Ethereum To Rise To $3,000 Soon Enough
On their (previously known as Twitter) post, CrediBULL Crypto presented a graph suggesting Ethereum could reach $3,000 around September. Interestingly, the same chart indicated a potential dip below $2,500 before this predicted rise. CrediBULL Crypto articulated their reasons for anticipating this price pattern for Ethereum.
As per the analyst’s prediction, Bitcoin is expected to experience a decline imminently, which could provide a beneficial reset for altcoins such as Ethereum. He mentioned that Ethereum’s initial drop could reach approximately $2,300 to $2,500. Furthermore, CrediBULL Crypto suggested that if Ethereum were to lose its current range, it might aim for the lower end of that range instead.
Instead, the crypto expert suggested Ethereum might fall to this initial support level and then rebound, potentially propelling it towards the higher resistance at $3,000 before a potential major decline. Simultaneously, CrediBULL Crypto emphasized that this predicted movement hinges on Bitcoin’s price fluctuations.
In this scenario, he cautioned that if Bitcoin experiences a more severe decline (melts harder), Ethereum may drop below the range of $2,300 to $2,500 and potentially fall further. Conversely, if Bitcoin merely corrects itself halfway, Ethereum could witness a rebound within that same range and reach another new high, as suggested by his chart annotation.
According to this chart configuration, CrediBULL Crypto advises against initiating new long positions on altcoins such as Ethereum at their current prices due to potential risks. Despite the allure of crypto bulls being drawn to take such an action following Bitcoin’s successful breakout above $60,000 over the weekend and its readiness for another significant price increase, it is important to be cautious.
The Real Fun Hasn’t Began For ETH
According to Crypto analyst Cousin Crypto’s analysis, the excitement for Ethereum has yet to peak, as a significant surge is predicted for its crypto token. Based on the chart he presented, Ethereum may surpass $5,000 during this bull market, potentially starting its upward trend towards that price point in the upcoming month.
According to crypto expert Poseidon, Ethereum’s growth phase will start when it surpasses the $3,000 mark. If this occurs, he anticipates that Ethereum could potentially reach a peak of $5,200 by October, setting a new record high (ATH) for Ethereum, with its current ATH being at $4,800.
Currently, as I’m typing this, Ethereum is being traded approximately at $2,7030, and it has decreased nearly 1% over the past 24 hours, based on information from CoinMarketCap.
Read More
Sorry. No data so far.
2024-08-26 23:46