The analyst reveals the difficulty in the price of ETHEREUM at this stage, can it reach 4000 dollars again?
Ethereum price has been a sharp decrease in the past months, Performing performance compared to Bitcoin (BTC) And Solana (Sol). Although she did not want to experience a significant increase in prices, a coding analyst revealed his rise in ETH, and he expected a Possible recovery to $ 4000 Before the end of the bull cycle.
The price of ETHEREUM is expected to reach $ 4000
In the encryption analyst announced his ascension to ETHEREUM price expectationsPrediction with a possible gathering to $ 4,000. Somewhat lengthy mail On X (Twitter previously), the analyst sheds light on many technical signals that indicate that ETH can closely reconsider this main price.
It is worth noting that the price of the ETH is applied clearly Support area Between 1700 dollars and 1900 dollars. Historically, this range was a recovery launch platform, with previous declines in this field that leads to a Strong prices increase.
while It was the weak performance Against Solana during this bull market, it has been multiplied since 2022 LOW, which is a better result than most altcoins. He also highlighted his bullish position on ETH, the astronomer revealed that he had switched BTC for ETH, with a strong condemnation that the latter will eventually outperform the previous at the end of the session.
Based on the analyst’s scheme, ETH is currently trading within the long -term Macro’s price range ranging between $ 1700 and $ 4,500. The cryptocurrency was recently re -testing at the bottom of this range, historically, which resulted in a price above $ 4000.
The astronomer also notes that Bitcoin has already determined the lowest week of the week, which means that ETHEREUM price movements may soon be in line with the currency -leading currency recovery. If ETH can restore $ 2,100, the analyst expects a quick step about $ 4,000 within a few months.
With the following Federal Reserve Monetary Policy In mid -April, the market may witness a renewed bullish momentum that can benefit the ETHEREM price track. Another major development supports the analyst The bullish projection of ethereum It is his performance in March 2024. At that time, Altcoin has previously ranked a high price but did not keep out, which led to a long correction.
However, the astronomer suggested that this trend insists on reconsidering $ 4000, especially after Ethereum reaches a decrease. The analyst notes that ETH is now in this critical minimum, which can indicate that The bottom inIt indicates a possible transition to new levels.
ETH market morale strikes the bottom
While sharing his ups in the ETH price during this bull cycle, astronomy also revealed that ETHEREUM faces a Heavy and heavy feelings Because of the weak performance for a long time. According to the analyst, the current ETHEREUM feeling on the market is worse than Bitcoin, as negative accounts dominate discussions through the encryption community.
Some claim that ETH lacks the appropriate state of use, while others indicate that Ethereum Foundation The sale may be. Nevertheless, historical data shows that when ETH reaches similar low levels in late 2017 and 2021, the cryptocurrency later witnessed a gathering to the new ATHS. Latest feelings of feelings Ethereum hit the bottom of the rocks Fourteen years of age, indicating extreme fear and uncertainty, which often precedes a large counterattack in prices.
Distinctive image from Adobe Stock, Chart from TradingView.com
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